{"id":2148,"date":"2026-05-08T07:37:11","date_gmt":"2026-05-08T07:37:11","guid":{"rendered":"https:\/\/gw.adampg777.com\/?p=2148"},"modified":"2026-05-08T07:37:11","modified_gmt":"2026-05-08T07:37:11","slug":"oil-climbs-following-fresh-clashes-between-us-and-iranian-forces","status":"publish","type":"post","link":"https:\/\/gw.adampg777.com\/?p=2148","title":{"rendered":"Oil climbs following fresh clashes between US and Iranian forces"},"content":{"rendered":"

<\/p>\n

\n

Oil climbed as renewed clashes between US and Iranian forces clouded the outlook for a deal to end the 10-week war.<\/p>\n

Brent rose as much as 2.9% toward $103 a barrel before paring gains, while West Texas Intermediate was near $96. US forces struck military targets in Iran after the country fired on three Navy destroyers sailing in the Strait of Hormuz, US Central Command said. Still, the command added that it \u201cdoes not seek escalation,\u201d although it remained ready to protect American forces.<\/p>\n

President Donald Trump said the three warships had successfully exited the waterway, and were undamaged following the attacks, according to a social-media post. On Iran, he added: \u201cWe\u2019ll knock them out a lot harder, and a lot more violently, in the future, if they don\u2019t get their Deal signed, FAST!\u201d<\/p>\n

The oil market\u2019s focus remains on the strait, which has been effectively closed since the war began at the end of February. That\u2019s triggered an unprecedented supply shock, with flows of crude choked off and wells across the region shut in. The waterway faces a double blockade, with Tehran obstructing traffic, while US prevents ships calling at or leaving Iranian ports.<\/p>\n

\u201cOil is trading between two risks: diplomacy on one side and another escalation on the other,\u201d said Charu Chanana, chief investment strategist at Saxo Markets in Singapore. \u201cMarkets are still giving the peace proposal a chance, but not enough of a chance to take the war premium out.\u201d<\/p>\n

\n
\n

ADVERTISEMENT<\/p>\n

CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n

The latest clashes heighten tensions across the region, as the US tries to exit the war that\u2019s imposed an increasing burden on consumers as retail gasoline and diesel prices spike. This week, the Trump administration has been waiting for Tehran to respond to its proposal to reopen the trade route, with Iran\u2019s leaders yet to indicate whether they\u2019ll accept the terms.<\/p>\n

Trump told reporters late Thursday that the ceasefire with Iran was still in effect, despite the back-and-forth. He added there was no need for curbs on US crude or jet fuel exports, saying: \u201cWe have tremendous amounts of oil.\u201d<\/p>\n

In the Middle East, the United Arab Emirates said on Friday air-defense systems were intercepting missiles and drones, according to a post on X. The UAE sits across the strait from Iran, and has been targeted often during the conflict, including a strike earlier this week in the port city of Fujairah.<\/p>\n\n\n\n\n
Prices:<\/th>\n<\/tr>\n
\n
    \n
  • Brent for July settlement rose 1.1% to $101.17 a barrel at 12:01 p.m. in Singapore.<\/li>\n
  • WTI for June delivery gained 0.9% to $95.67 a barrel.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    The head of the International Energy Agency warned the world was losing 14 million barrels of oil a day because of the war, and ramping up production after the conflict would be gradual. Fatih Birol also reiterated during a visit to Canada on Thursday that the Paris-based IEA was prepared to take further action after members agreed in March to release 400 million barrels.<\/p>\n

    \n
    \n

    ADVERTISEMENT:<\/p>\n

    CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n

    Bridgewater Associates founder Ray Dalio said the outcome of the US-Iran conflict can be defined in \u201calmost black-and-white terms of who will control the Strait of Hormuz,\u201d according to comments to a New York Times podcast.<\/p>\n

    For the week, Brent remains more than 6% lower even after Friday\u2019s gain.<\/p>\n

    The crude market\u2019s price \u201creaction being relatively contained tells us that the market still sees this as manageable for now,\u201d said Haris Khurshid, chief investment officer at Karobaar Capital LP in Chicago. \u201cEarlier in the conflict, every escalation triggered a pretty major repricing.\u201d<\/p>\n

    \u00a9 2026 Bloomberg<\/p>\n<\/p><\/div>\n

    #Oil #climbs #fresh #clashes #Iranian #forces<\/p>\n","protected":false},"excerpt":{"rendered":"

    Oil climbed as renewed clashes between US and Iranian forces clouded the outlook for a deal to end the 10-week war. Brent rose as much as 2.9% toward $103 a… <\/p>\n","protected":false},"author":1,"featured_media":2149,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2977,3863,2993,1508,3864,280],"class_list":["post-2148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-clashes","tag-climbs","tag-forces","tag-fresh","tag-iranian","tag-oil"],"_links":{"self":[{"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/posts\/2148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2148"}],"version-history":[{"count":0,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/posts\/2148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/media\/2149"}],"wp:attachment":[{"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}