Oil Prices Rise More Than $1 After US Strike on Iran’s Lark Island
London:Global oil prices rose by more than $1 a barrel after the United States launched an attack on Iran’s Lark Island and Iran announced retaliatory action, reigniting concerns over oil supplies from the Middle East.
Reports said the global energy market is once again facing significant uncertainty as the conflict in the Middle East enters its sixth month.
Brent crude rose by $1.08, or 1.23%, to $89.18 per barrel, while US West Texas Intermediate (WTI) crude increased by 92 cents, or 1.10%, to $84.32 per barrel.
Analysts said the latest military escalation between the United States and Iran has renewed concerns about disruptions to global oil supplies. They added that it remains difficult to predict how long the current tensions will continue, with the confrontation potentially lasting for several days or weeks.
The United States recently targeted Iran’s Lark Island. According to the US military, the operation was intended to prevent possible Iranian action in the Strait of Hormuz, while US officials claimed that two rocket launchers on the island had been destroyed.
Meanwhile, Iran’s Islamic Revolutionary Guard Corps claimed that several Iranian military personnel and civilians were killed or wounded in the US strike on Lark Island.
Iran condemned the US action as aggression and announced that it would retaliate.
Later, Iran claimed to have targeted US forces stationed in Jordan with missiles in response to the attack on Lark Island. Jordan, meanwhile, said it had intercepted several missiles that entered its airspace.
The latest escalation has heightened fears that a prolonged confrontation could threaten the security of the Strait of Hormuz, a critical route for global energy supplies, potentially putting further upward pressure on oil prices.
