Oil Prices Rise as Markets React to US Strikes on Iran's Kharg Island
International oil prices, including Brent crude, have surged as markets process news related to the Iran war, specifically reacting to US strikes on Iran's crucial Kharg Island.
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Japan begins release of oil reserves as Iran war sparks energy crisis
Tokyo's move comes as oil prices remain elevated amid the effective closure of the Strait of Hormuz.
Read full article →The Wrath Of Kharg
The Wrath Of Kharg By Ben Picton, Senior Market Startegist at Rabobank Brent crude is bid again this morning as markets digest the dump of news over the weekend relating to the Iran war. On the bullish side for crude was the US decision to bomb Iranian military assets on Kharg Island – the Persian Gulf port where up to 90% of Iranian oil exports are typically loaded onto tankers. Announcing the strikes via Truth Social, President Trump was at pains to be clear that oil infrastru...
By Tyler Durden
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