Oil Prices Jumps 4.48% as US Strikes on Iran Extend

U.S. crude futures jumped 4.48% to $82.49 per barrel after the U.S. Central Command (CENTCOM) announced a new wave of strikes against Iran, marking the seventh consecutive night of military operations.

Oil Prices:

WTI Crude • 82.47 +3.52 +4.46%

Brent Crude • 88.07 +3.84 +4.56%

Murban Crude • 81.00 +3.27 +4.21%

WTI Midland • 82.44 +3.09 +3.89%

Opec Basket • 2 days 83.39 -2.77 -3.21%

Indian Basket • 81.42 -1.27 -1.54%

Natural Gas • 2.922 +0.064 +2.24%

Gasoline • 3.393 +0.108 +3.29%

Heating Oil • 4.077 +0.047 +1.16%

CENTCOM said the latest strikes were carried out at 3:00 p.m. Eastern Time as part of ongoing efforts to weaken Iran’s military capabilities, following directives from the U.S. commander in chief.

In a statement posted on its official account on X, the command said the operations were aimed at further reducing Iran’s ability to conduct military activities, without providing additional details on the targets or the scale of the strikes.

The renewed military escalation fueled concerns over potential disruptions to global energy supplies, pushing crude prices higher as investors assessed the risks surrounding one of the world’s most strategically important oil-producing regions.

Iran’s position in the global energy market, particularly its proximity to key shipping routes in the Gulf region, has historically made tensions involving Tehran a major factor influencing oil prices.

The continued strikes have heightened uncertainty over the trajectory of the conflict and the possibility of further escalation, with energy traders closely monitoring developments for any impact on crude production, exports, or regional shipping activity.

Oil markets remain highly sensitive to geopolitical developments, as prolonged instability in the Middle East could increase supply risks and add pressure to global energy prices.