Oil Prices Rise Over 1% After U.S. Strikes Iranian Rocket Launchers
Oil prices rose more than 1% early Monday as concerns over potential supply disruptions increased following a U.S. military strike on two Iranian rocket launchers located on Larak Island near the Strait of Hormuz. The attack, confirmed by Navy Capt. Tim Hawkins from U.S. Central Command, was reported to be the first publicly acknowledged U.S. strike against Iran since late July and reportedly resulted in casualties among Iranian forces. In response, Iran's Revolutionary Guards Corps claimed it had retaliated with attacks on American military bases in Jordan. Analysts noted that ongoing tensions have already disrupted vessel traffic through the Strait of Hormuz—a critical global energy shipping route—and are likely to continue affecting oil inventories and supply stability for weeks or months ahead.
