Oil Surges Past $100 as US-Iran Hostilities Escalate; UK Leads 12 Nations in West Bank Settlement Sanctions
Brent crude prices surpassed $100 a barrel for the first time since July 24, rising 3.1% to $100.95. This spike followed the US's destruction of five Iranian oil tankers, prompting Iran's Revolutionary Guard Corps (IRGC) to strike at two American vessels and damage eight oil tankers and 10 other ships in the Strait of Hormuz. Iran launched 30–50 ballistic missiles at US bases, mainly targeting the Muwaffaq Salti Air Base, using various missile types from several locations. The IRGC reported significant damage, but CENTCOM confirmed no US casualties. Iran also seized an outdated US Navy autonomous underwater vehicle. In Yemen, Houthi assaults injured 73 in Saudi cities. Meanwhile, the UK and several allies sanctioned Israeli settlements, with Israel warning of possible repercussions.
Key facts
- Brent crude rose above $100 a barrel for the first time since July 24, reaching $100.95.
- The US destroyed five Iranian crude oil carriers; Iran's IRGC retaliated against two American vessels, eight oil tankers, and 10 other ships.
- Iran fired 30–50 ballistic missiles at US bases in Jordan, mainly Muwaffaq Salti Air Base in Azraq.
- CENTCOM claimed no American personnel were harmed; the IRGC claimed heavy damage to aircraft shelters.
- Iran captured a US Navy Dive-LD autonomous underwater vehicle; CENTCOM called it a defective older model.
- Houthi attacks on Saudi cities wounded 73 people.
- The UK and 11 other nations imposed sanctions on Israeli settlements in the West Bank.
- European natural gas prices rose nearly 4% to close to 79 euros per megawatt-hour.
Entities
Artists
- Donald Trump
- Ed Miliband
- Andy Burnham
- Malcolm Nance
- Mario Nawfal
- Khawaja Asif
- Zabihollah Khodaian
- Yousef Mawry
- Ziad Daoud
- Charlie Bilello
Institutions
- IRGC
- CENTCOM
- US Navy
- Al Jazeera
- Reuters
- Saudi Press Agency
- UN
- Financial Times
- Wall Street Journal
- New York Times
- Axios
- Ynet
- Sputnik
- TRM Labs
- National Iranian Oil Refining and Distribution Company
- National Iranian Gas Company
- Iranian Offshore Oil Company
- General Inspection Organisation
- United Kingdom Maritime Trade Operations
- Islamic Revolutionary Guards Corps
- Tasnim News Agency
- CNBC
- The New York Times
- Kpler
- AAA
- Citi
- Quartz
- Houthis
- Saudi Arabia
- Iran
- United States
- Brent crude
- Strait of Hormuz
- Red Sea
- Qeshm Island
- Rotterdam
- Netherlands
Locations
- Iran
- United States
- Strait of Hormuz
- Jordan
- Azraq
- Yazd
- Isfahan
- Lorestan
- Saudi Arabia
- Yemen
- West Bank
- East Jerusalem
- United Kingdom
- Canada
- Denmark
- Finland
- France
- Iceland
- Ireland
- Norway
- Poland
- Portugal
- Spain
- Sweden
- Bandar Abbas
- Kharg Island
- Persian Gulf
- Tehran
- Bushehr
- India
- Sri Lanka
- Red Sea
- Al Shuqaiq
- Bab al-Mandab
- Qeshm Island
- Rotterdam
- Netherlands