US Strikes Iranian Launchers, Sends Brent Crude to $90

The US military struck Iranian rocket launchers near the Strait of Hormuz on August 30, ending a roughly month-long lull in direct attacks between Washington and Tehran.

Brent crude briefly tapped $90 as renewed U.S.-Iran fighting revived Gulf supply risks. The strike was preemptive, with CENTCOM claiming they watched preparations unfold before striking Iranian launchers.

The operation follows months of intermittent conflict that began on February 28 with joint US-Israeli strikes. A June 17 agreement designed to halt fighting and reopen the strait during 60 days of negotiations unraveled in July.

Iran vowed retaliation, putting CENTCOM and global energy markets on alert. West Texas Intermediate (WTI) crude climbed toward the mid-$84 range as traders factored in renewed risks to Gulf shipping. Bitcoin dropped about 0.6% once reports of the strikes hit.