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Channel NewsAsia
Channel NewsAsia
AsiaPac · 20 mins ago
Oil rises after US launches fresh strikes against Iran
BEIJING, July 9 : Oil prices rose on Thursday after the U.S. launched fresh strikes against Iran, denting hopes for an end to the Iran war and for the full reopening of the Strait of Hormuz, a chokepoint for one-fifth of pre-war global oil supplies.Brent crude futures rose 78 cents, or 1 per cent to $78.8 a barrel by 0054 GMT. U.S. West Texas Intermediate crude futures were up 74 cents, or 1.01 per cent, at $74.26 a barrel. Both crude benchmarks, WTI and Brent, rose more than a dollar in post-settlement trade on Wednesday after the U.S. military began launching fresh strikes on Iran. Before that, the benchmarks had settled at their highest in over two weeks after U.S. President Donald Trump threatened fresh strikes against Iran as soon as Wednesday night. The U.S. military said it was laun
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