US carries out limited strikes on Iran, oil prices hover near $100
The United States has conducted limited strikes against Iran, according to US officials reported by the Wall Street Journal. At the same time, Brent crude and West Texas Intermediate futures trade around $100 and $91 per barrel respectively. Analysts note that the recent military action and the upcoming lame‑duck period could influence future price movements, with some expecting futures to climb above $100 per barrel.
Key facts
- Bob McNally, CEO of Rapidan Energy Group, says the US may resume broader military action against Iran in the coming days.
- Lombard Odier analysts Samy Chaar and Luca Bindelli note the lame‑duck window could enable further strikes.
- Norbert Rücker of Julius Baer says the market sees a possible diplomatic off‑ramp after the midterm elections.
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Why it matters
Geopolitical tension pushes oil prices higher, affecting global energy costs.
What changed
First published from OilPrice.com and CNBC