Oil prices dip after U.S. strike on Iran's Qeshm Island
Brent crude settles at $105.26 per barrel and West Texas Intermediate at $97.07 after a 7% drop the day before. The decline follows a reported U.S. strike on Iran's Qeshm Island, which unnamed officials describe as part of a series of limited secret attacks. President Trump later declared that the United States is at war with Iran and has won.
Key facts
- Brent price: $105.26 per barrel.
- WTI price: $97.07 per barrel.
- Oil market fell 7% the day before the reported prices.
- U.S. strike targeted Qeshm Island in Iran.
- Trump claimed the U.S. had won its war with Iran.
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Why it matters
The price fall signals market reaction to escalating U.S.-Iran tensions.
What changed
First published from OilPrice.com