U.S. launches fresh Iran strikes; Brent oil jumps on Hormuz disruption fears
U.S. Central Command said Thursday it launched a fresh round of strikes against Iranian radar and missile sites; Brent crude jumped more than 4% in Asia trade to top $84 a barrel. Investors began pricing in the risk that Iran could close the Strait of Hormuz, which carries roughly a fifth of the world's seaborne oil supply.
U.S. Central Command said Thursday morning it had launched a fresh round of limited-scope strikes against radar and missile sites in southern Iran. A White House spokesperson said the operation was a retaliation for the Apache helicopter downed on Monday and that no further action was planned for now. Brent crude futures jumped more than 4% in Asian trade to top $84 a barrel; WTI tested $80.
Market strategists are starting to price in a potential closure of the Strait of Hormuz. Goldman Sachs estimated that a sustained disruption could push Brent into a $110-$120 range in the near term. JPMorgan sees a full-closure scenario spiking prices above $120, while its base case keeps prices around $85. Asian equities fell, with the MSCI Asia Pacific index down 1.2% and Wall Street futures off 0.8%.
The U.S. Department of Energy said it had no plans to release Strategic Petroleum Reserve barrels. Rystad Energy analyst Mukesh Sahdev told Reuters that tanker transits through Hormuz remain normal so far, though marine insurers have raised war-risk premiums. OPEC+ delegates are reportedly holding emergency consultations on supply response. Not investment advice.
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