Oil climbs after US strike on Iran and retaliatory missile fire
Oil rose around 2% after US forces struck Iranian targets near the Strait of Hormuz and Iran retaliated with missile fire.
Gold, crude oil, industrial metals and agricultural products: supply and demand, inventories and geopolitical risk.
Oil rose around 2% after US forces struck Iranian targets near the Strait of Hormuz and Iran retaliated with missile fire.
Iran launched missiles from four provinces, including anti-ship cruise missiles aimed at the Strait of Hormuz, after a reported US strike on Larak Island.
U.S. forces struck two Iranian missile launchers on Larak Island near the Strait of Hormuz.
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Goldman Sachs estimates Gulf oil exports recovering to 15-16 million bpd, still far below pre-war levels, while noting adaptive shipping behavior.
Only seven vessels transited the Strait of Hormuz, down from 17, as disruption continues with no end in sight to the US-Iran standoff.