Oil Rises Over 1% After U.S. Forces Strike Two Iranian Rocket Launchers on Larak Island
Oil rises Monday, amid heightened concerns over supply disruptions after U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday.
TL;DR
- Oil prices rose more than 1% on Monday.
- U.S. forces struck two Iranian rocket launchers on Larak Island.
- The launchers were reportedly being prepared to target the Strait of Hormuz.
- Iran claims the strike caused casualties and that it has retaliated against U.S. military bases in Jordan.
- Concerns over supply disruptions have increased.
- Vessel traffic through the Strait of Hormuz has been disrupted by the Middle East conflict.
- Analysts predict persistent supply risks and depleting oil inventories.