Oil rises after report of US strike on Iran's Qeshm Island
Business Recorder • • 1 min read
Brent crude gained 48 cents, or 0.5%, to $105.25 a barrel in early Asian trading on Tuesday, while US West Texas Intermediate added 47 cents to reach $96.93. The rise followed a report of a US attack on Iran’s Qeshm Island; Brent had dropped 7.63% on Monday to close at $104.77.
Business Recorder reported that the news revived concern over conflict-related risks to oil flows from the region. The fighting has curtailed shipping through the Strait of Hormuz, a route that handles roughly one-fifth of world oil and gas supply, while diplomatic contacts continue without a breakthrough. US President Donald Trump expressed doubt about renewed strikes and said an agreement with Tehran remained possible.
At a glance
- Brent rose 0.5% to $105.25 a barrel in early Asian trading.
- The Qeshm Island strike report renewed concerns about regional oil supply disruptions.
Originally reported by Business Recorder
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