Brent Oil Surges Past $105 on Renewed Iran Strike Fears
Brent crude jumped nearly 5% to about $105 per barrel on reports of renewed US strikes on Iran, reversing earlier declines.
Iraqi militias attacked Saudi pipeline, exposing defense gaps. Repair timeline 3-6 weeks; further strikes could make it indefinite.
Perhaps the most significant lesson from the attacks on Saudi Arabia's east-west pipeline is not merely that they happened, but that Iraqi militias were capable of launching them and Saudi Arabia could not defend against them.
According to reports, repairs will take three to six weeks, but further strikes could extend the timeline indefinitely. Saudi Arabia is evidently being drawn deeper into the conflict by the Houthis, while Iran appears to be positioning itself to gain leverage for a comprehensive peace. The Houthi fighters have so far demonstrated surprising tactics, capturing coastal areas and islands, including Mocha.
Share to
Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
Brent crude jumped nearly 5% to about $105 per barrel on reports of renewed US strikes on Iran, reversing earlier declines.
Oil prices surged amid reports the White House asked the Pentagon for strike options against Iran, raising fears of renewed conflict.
Gold briefly dipped below $4,110 support but recovered, as geopolitical tensions support oil; the technical bias remains neutral to bearish.
Oil prices rose on Middle East risks, while Japanese and South Korean stocks fell. Gold rebounded towards $4,140.