Oil prices rebounded on Tuesday after the United States carried out what it described as defensive strikes in southern Iran, raising fresh concerns over the fragile ceasefire and ongoing peace talks between Washington and Tehran.
The strikes came amid expectations that both countries were nearing an agreement to end the three-month war and reopen the Strait of Hormuz for the free movement of oil shipments.
From about $97 per barrel on Monday, global benchmark Brent crude futures rose by roughly 3.5 per cent on Tuesday to around $100 per barrel.
According to reports, US forces struck missile-launch sites and other targets in southern Iran on Monday, even as the Donald Trump administration signalled that a peace agreement between the two sides could be close.
In a statement, the US Central Command said the attacks were defensive in nature. “US forces conducted self-defense strikes in southern Iran today to protect our troops from threats posed by Iranian forces. Targets included missile launch sites and Iranian boats attempting to emplace mines,” CENTCOM spokesman Capt. Tim Hawkins said.
