Tensions in West Asia escalated further as combined air strikes by American and Saudi forces targeted Iran-linked militants in Iraq following recent drone attacks. Meanwhile, global energy markets reacted sharply, with crude oil prices surging over 3% after US military forces intercepted incoming Iranian missiles.
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Tensions in West Asia escalated further as combined air strikes by American and Saudi forces targeted Iran-linked militants in Iraq following recent drone attacks. Meanwhile, global energy markets reacted sharply, with crude oil prices surging over 3% after US military forces intercepted incoming Iranian missiles.
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Crude oil surges over 3% following missile interceptions from Iran
Crude oil markets witnessed a sharp increase of over 3% early Wednesday during Asian trading hours, following statements from the American armed forces that they successfully neutralized several missiles fired by Iran. Around 0015 GMT, the American benchmark West Texas Intermediate rose by 3.67% to reach $82.17 per barrel, whereas North Sea Brent crude saw a rise of 3.39%, trading at $86.94 per barrel.American and Saudi air forces target Iran-supported militants in Iraq
Joint airstrikes were conducted on Tuesday (July 28) by American and Saudi fighter jets against Iranian-backed insurgents inside Iraq, who had executed more than two dozen drone strikes over recent days, according to statements from the United States military. The action was directed at "Iran-aligned terrorists that the Islamic Revolutionary Guard Corps (IRGC) directed to attack US forces and Saudi energy infrastructure," as detailed in an official press release by US Central Command (CENTCOM).
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