U.S. forces carried out another series of strikes on September 1 against sites associated with Iran’s Islamic Revolutionary Guard Corps near the Strait of Hormuz. U.S. Central Command said the completed operation targeted air-defense and radar networks, maritime assets, mine-deployment capabilities and communications facilities following attempted attacks on commercial vessels and American personnel. President Donald Trump said the action also responded to Iranian efforts to place mines in the waterway and an earlier attack on a U.S. base. Iran subsequently reported launching missiles and drones toward American bases in the region, including a facility in Jordan.
The exchange returned market attention to shipping conditions through the Strait of Hormuz, where oil movements had recovered to approximately half of their prewar level during the preceding period of reduced military activity. West Texas Intermediate crude moved above $90 per barrel, while benchmark European natural-gas futures reached their highest level since January 2023. Bloomberg also reported that oil had gained more than 45% during 2026. Two supertankers attempting to leave the strait had been struck by projectiles one day earlier, although responsibility was not established. The developments illustrate how Hormuz shipping conditions and other factors affecting oil prices can influence energy costs, supply expectations and investor attention.
Source: Bloomberg
Read the full original article here
