Trump warns of possible further strikes on Iran amidst rising oil prices and tanker attacks in the Strait of Hormuz
Trump’s remarks were made in a post on Truth Social, where he accused Iran of fabricating incidents to escalate the situation.
Iranian state television reported that seven oil tankers were attacked or struck naval mines in the Strait of Hormuz overnight.
Tanker attacks
This potentially represents the largest number of vessels damaged in the waterway since the conflict began on February 28.
The Revolutionary Guard’s navy reported that four tankers caught fire while transferring oil, while three were immobilized after striking naval mines.
Details regarding casualties or the national flags of the affected tankers were not disclosed.
These developments contributed to a 2% rise in oil prices, reaching a five-month high.
Brent crude futures increased by $2.42, or 2.2%, to $111.24 a barrel, while U.S. West Texas Intermediate (WTI) crude rose by $1.14, or 1.2%, to $98.29.
Brent crude is now in technically overbought territory for the third time this week, poised for its highest close since May 18.
