Oil prices choppy after U.S. completes Iran strikes following Apache attack

U.S. Central Command said its limited-scope retaliatory strikes on Iranian radar and missile installations were complete, following the downing of an Apache helicopter near the Strait of Hormuz. A Pentagon spokesperson stressed that targets were strictly military and that civilian infrastructure had not been hit. The helicopter crew, the Pentagon noted, had been rescued from the sea earlier with no fatalities reported.

Brent crude traded choppily in a narrow band after the announcement, with prices holding between $78 and $79 per barrel. Traders speaking to Reuters confirmed daily tanker traffic through the Strait of Hormuz was continuing uninterrupted. Department of Energy officials said no additional sales from the strategic petroleum reserve were planned.

Goldman Sachs and Morgan Stanley analysts read the muted move as markets pricing in a containment of regional escalation. JPMorgan crude strategists noted that a durable break above $80 would likely require an actual disruption of Hormuz traffic. Asian equities opened modestly lower while U.S. futures were largely flat. Not investment advice.