Oil prices rise as US-Iran tensions escalate after strike on Larak island
Meanwhile, the price of US West Texas Intermediate crude rose by 92 cents, or 1.10 per cent, to $84.32 a barrel.
Analysts say the situation has once again entered a phase of rising tension. It is difficult to say how long it will last. It could be a few days or several weeks.
The United States carried out an air strike on Iran’s Larak island. It claimed to have destroyed two rocket launchers of the Revolutionary Guards.
The Iranian Revolutionary Guards claimed that several Iranian personnel and civilians were killed and wounded in the US attack on Larak island. Iran later attacked US forces stationed in Qatar and Jordan in response to the attack on the island.
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