US Strikes Iranian Oil Tankers, Raising Concerns About Disruptions to Global Oil Flows

US forces struck three Iranian oil tankers on Saturday, adding a fresh shock to crude markets after West Texas Intermediate (WTI) gained 9.7% last week.

The attack hit vessels near Kharg Island and Jask, east of the Strait of Hormuz, with one tanker being empty at the time of the strike.

Admiral Brad Cooper stated that the US would defend its forces and destroy Iran's 'limited and exposed oil fleet' if required, raising concerns about potential Iranian retaliation.

The disruption to oil flows is a major concern, as the Strait of Hormuz averaged 4.9 million barrels daily in the second quarter, which was 77% below pre-war levels.