By Zoila Palma: Today, Global oil prices climbed sharply after fresh U.S. military strikes on Iran renewed uncertainty over a promised peace agreement between Washington and Tehran.
Brent crude briefly touched $100 per barrel before easing to around $99, still above Monday’s level of $96 when optimism over diplomatic progress had boosted markets, Time reports.
The renewed volatility followed U.S. military action announced Monday night, described by Washington as “self-defense” strikes targeting missile launch sites and boats allegedly attempting to lay mines in southern Iran.
U.S. Central Command spokesperson Capt. Tim Hawkins said American forces were continuing to defend personnel while exercising restraint during the ongoing cease-fire.
U.S. President Donald Trump did not immediately comment on the strikes but posted an image Tuesday carrying the slogan “Peace Through Strength.” Iran’s Revolutionary Guards Corps responded by asserting what it called its right to retaliate against actions considered violations of the fragile cease-fire. Iranian state media also reported that U.S. fighter jet strikes on Iranian boats killed four Revolutionary Guard troops.
The latest exchange has weakened hopes that the Strait of Hormuz, through which roughly one-fifth of the world’s oil supply passes, could soon reopen. Iran’s continued control over the strategic waterway has intensified concern in global markets and raised fears of broader economic disruption and a potential food crisis.
The post International News: Global oil prices climb after U.S. strikes on Iran shake peace deal hopes appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: Today, Global oil prices climbed sharply after fresh U.S. military strikes on Iran renewed uncertainty over a promised peace agreement between Washington and Tehran. Brent crude briefly touched $100 per barrel before easing to around $99, still above Monday’s level of $96 when optimism over diplomatic progress had boosted markets, Time reports.
The post International News: Global oil prices climb after U.S. strikes on Iran shake peace deal hopes appeared first on Belize News and Opinion on www.breakingbelizenews.com.