Stability in the Strait of Hormuz did not last long. Last night, the United States launched missile strikes against 80 targets, including Iran’s air defense systems, military facilities along the Gulf coast, its navy, and other components of its defense infrastructure.
According to sea-news.az that, according to the Axios news agency, U.S. President Donald Trump, who was attending a NATO summit in Ankara, ordered the missile strikes on Iran after consulting with his Secretaries of Defense and Treasury.
The U.S. carried out the military operation after accusing Iran of violating an agreement and striking three tankers transiting the Strait of Hormuz with missiles, a development that naturally impacted oil prices on the world market. Following the events in the Gulf, the price of a barrel of Brent crude oil rose by more than $2 to $76, while “Light” crude oil prices increased by over 3%, reaching $72 per barrel. The price surge also affected Azerbaijani oil, with the price of a barrel of “Azeri Light” crude increasing by 2.64% to $75.66.
The situation was further aggravated after Iran responded by launching missile attacks on U.S. military bases located in Bahrain and Kuwait.
Analysts predict that oil prices will continue to rise throughout the day.
