"Oil prices soared above $100 a barrel Monday as the U.S.-Israeli war with Iran entered its 10th day and fears of a prolonged conflict sent shockwaves through global energy markets, with multiple Iranian retaliatory strikes reported overnight across the region."
"The price for a barrel of Brent crude, the international standard, spiked to $119.50 early on Monday but later was trading close to $105 as refineries in the Gulf came under attack and concerns mounted over shipping disruptions through the Strait of Hormuz, the narrow chokepoint through which a fifth of the world's oil transits daily."
"Hours after Iran named its new supreme leader, the IRGC announced new missile strikes across the region, while Israel said it had carried out another 'wave of strikes' targeting Iranian missile launch sites and regime infrastructure. The Israeli military also said it hit Hezbollah infrastructure in Beirut, with plumes of smoke rising from the Lebanese capital's southern suburbs."
Oil prices surged above $100 per barrel as the U.S.-Israeli conflict with Iran intensified on its tenth day. Iran appointed a new hardline Supreme Leader, Mojtaba Khamenei, signaling defiance against the United States. The IRGC launched missile strikes across the region while Israel conducted retaliatory strikes on Iranian infrastructure and Hezbollah targets in Beirut. Gulf states intercepted multiple drones and missiles targeting critical infrastructure, including Saudi Arabia's Shaybah oil field and Qatari facilities. Brent crude spiked to $119.50 before settling near $105 as refineries faced attacks and shipping disruptions threatened the Strait of Hormuz, through which one-fifth of global oil transits daily. Bahrain's national oil company declared force majeure due to operational constraints.
Read at The Washington Post
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