Ramallah: US Secretary of Energy Chris revealed that 17 million oil barrels transited the Strait of Hormuz on Monday. Wright explained that this was the highest level of oil to pass through the waterway since the Iran war had reduced flows.
According to Qatar News Agency, early trade on Wednesday saw oil prices rise by nearly 1%, continuing the previous session's increase, as fears of supply disruption increased after Washington resumed strikes last night. Brent crude futures rose 87 cents or 0.92% to $95.52, while West Texas Intermediate (WTI) futures rose 80 cents or 0.89% to $91.02. Both contracts rose more than $4 on Tuesday, marking Brent's biggest gain since July 24, and WTI's biggest since July 23.
US Central Command announced on X that it launched a series of airstrikes overnight against IRGC targets, including air defense sites, radar systems, maritime assets and facilities, mine laying capabilities, and communications sites.