NewzUnited States and Saudi Arabia launched joint strikes on Iran-backed groups in Iraq. Iran claimed to have intercepted oil tankers and fired missiles at US installations. Eight Iraqi PMF members were killed in the joint US-Saudi attacks.
Oil prices climbed amid concerns over energy supply disruptions. Diplomatic efforts continue as tensions between nations rise. The US military warned Iran to halt its attacks carried out directly or via its regional proxies against Washington’s assets in the Gulf or Saudi Arabia’s energy infrastructure to “avoid further military response”.
Oil prices rose more than $3 a barrel on Wednesday after joint strikes in Iraq by the United States and Saudi Arabia, and the interception of Iran’s ballistic missiles aimed at U.S. forces in the Middle East, while U.S. Brent futures increased by $3.30, or 3.9%, to $87.39 a barrel by 0300 GMT, while U.S.
West Texas Intermediate (WTI) crude rose $3.05, or 3.8%, to $82.31 a barrel. “Renewed strength comes after the U.S. said it intercepted a surprise attack on U.S.
troops,” ING analysts said in a note. “Saudi Arabia intercepted drones from Iranian-backed groups in Iraq, which were targeting Saudi energy infrastructure,” they said, adding that U.S. and Saudi forces launched strikes on weapon sites across eastern Iraq.
The latest developments dampen expectations for a swift de-escalation in the Persian Gulf, they said. military said it intercepted ballistic missiles launched by Iran towards U.S. forces in the Middle East in what Washington called “an attempted surprise attack” by Tehran.
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