Crude futures rose by nearly 1% on Wednesday morning after the US confirmed it had struck IRGC targets on Tuesday following recent Iranian attempts to target ships in the Strait of Hormuz.

The move came as markets continued to track security risks around one of the world’s most important oil transit routes, where any disruption can quickly affect tanker traffic and trading sentiment.

The ICE November Brent contract traded at $95.46/bl as of 5:01 AM in London, up 0.9% from Tuesday’s settlement of $94.64/bl.

US forces completed a wave of strikes against Iranian military targets on Tuesday, the US Central Command (CENTCOM) confirmed in a social media post on Wednesday.

“U.S. forces struck Islamic Revolutionary Guard Corps (IRGC) targets including air defense sites, radar systems, maritime assets and facilities, mine laying capabilities, and communications sites,” it said.

“The strikes follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members.”

Two tankers were reportedly hit on Monday off the coast of Oman and in the Indian Ocean, the UK Maritime Trade Operations (UKMTO) said in an advisory yesterday.

Media outlet Axios had reported that US forces struck two Iranian tankers on Tuesday in the latest US strikes.

Ship & Bunker News Team

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