"The price of the West Texas Intermediate (WTI) and Brent futures rose after reports that a U.S. warship was struck by two missiles from the IRGC, marking a potential restart of hostilities since the April 7 ceasefire."
"WTI Crude futures with delivery in June climbed up to $107.28 on early morning, and then stabilized to a little over $105, while Brent futures rose close to $114 before dropping near the $110 mark."
"U.S. Central Command (CENTCOM) denied these allegations on social media, stating that no U.S. Navy ships have been struck, amidst ongoing support for Project Freedom and enforcement of a naval blockade on Iranian ports."
Oil prices increased significantly following reports of a U.S. warship being hit by missiles from the IRGC in the Strait of Hormuz. WTI futures rose to $107.28 before stabilizing around $105, while Brent futures peaked near $114 before settling close to $110. CENTCOM refuted the claims of the attack, asserting that no U.S. Navy ships were struck. The situation escalated after President Trump announced a naval operation to assist ships trapped in the Strait, highlighting ongoing geopolitical tensions affecting global oil supply.
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