Oil prices react to the exchange of blows between the US and Iran. “Agreement out of reach”
Oil prices in fuel markets are volatile after the latest round of blows between the US and Iran, brokers say. According to information from Wednesday morning A barrel of West Texas Intermediate crude oil for July delivery is priced at $88.21 on the NYMEX in New York. — higher by 0.01 percent In turn, Brent crude oil on ICE for August reaches the price of USD 91.46. per barrel, up 0.01 percent Both benchmarks previously gained and lost value more strongly.
See also: Oil cheaper despite tensions around Hormuz. Donald Trump spoke out after shooting down the helicopter
Analysts warn: the US-Iran agreement is out of reach
According to information from the U.S. Army's Central Command, American forces have ended their “self-defense” strikes against Iran. Iranian air defenses, ground control stations and surveillance radar stations near the Strait of Hormuz were attacked. As it was emphasized, the attacks were carried out “in self-defense”, on the order of the commander-in-chief in response to the downing of an American Apache helicopter on Monday.
In turn, Iran's Islamic Revolutionary Guard Corps (IRGC) announced that in response to US strikes in southern Iran, it attacked the US Fifth Fleet in Bahrain with drones. In a statement, the IRGC warned of a “more decisive response” if American aggression continued.
— The attacks in recent hours further underscore that any U.S.-Iran agreement remains out of reach for now, said Saul Kavonic, senior energy markets analyst at MST Marqueequoted by PAP. He emphasized, however, that oil price fluctuations are not too large. — However, the market feels some comfort because the attacks of both sides on each other remain “proportional” and these are not total attacks,” he added. In his opinion, this nevertheless suggests striving for agreement, not war.
See also: OPEC+ is preparing a fourth production increase. Oil prices still high
Analysts say the latest round of blows between the U.S. and Iran threatens to extend the near-total closure of the Strait of Hormuz, key to transporting crude oil, fuels and natural gas from the Persian Gulf to the world.
Meanwhile, oil inventories in the US are falling sharply, according to the latest industry report from the American Petroleum Institute (API). They fell by as much as 9.1 million barrels last week, which means their steepest decline since September 2025. US oil inventories are now at their lowest level in four months.
