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Intl Oil Prices Swell 2%+ as US Launches New Airstrikes on Iran
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International oil prices ascended this morning (28th) after the US launched new attacks on Iran, reigniting market concerns that commercial shipping through the Strait of Hormuz could be disrupted. Brent oil futures for July delivery climbed 2.34% to USD96.5 per barrel, while New York oil futures for July delivery increased 2.2% to USD90.63 per barrel. Citi said in a report that the crude oil market is gradually stabilizing as the US and Iran are moving toward reaching an agreement, with investors beginning to price out the worst-case scenario of supply disruptions. However, Citi warned that the timing of any agreement remains highly uncertain, keeping global central banks on alert as they weigh tightening monetary policy to address inflation risks arising from higher energy prices. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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