U.S. Central Command said Iran's Revolutionary Guard launched multiple missiles in an attempted surprise attack on American positions in the Middle East
Vessels passing through the Strait of Hormuz following a ceasefire deal reached between the U.S. and Iran. (Shady Alassar/Anadolu via Getty Images)
Brent crude futures jumped 6.6% to $89.61 a barrel on Wednesday after President Donald Trump said the U.S. would retaliate against Iran following a missile strike on American forces in the Middle East. WTI futures climbed 6.4% to reach $84.31 a barrel.
The Islamic Revolutionary Guard Corps launched multiple ballistic missiles from Iranian territory in what Centcom, posting on X $TWTR, characterized as a surprise assault on American military personnel stationed in the Middle East.
U.S. and Saudi forces also hit a number of terrorist logistics and weapons sites in eastern Iraq on Tuesday in response to more than 30 drone attacks over the preceding three days, which Centcom attributed to Iran-aligned terrorists.
Separately, the U.K. Maritime Trade Operations Centre flagged a security concern in the Red Sea, saying a tanker's master reported hearing an explosion during passage through the southern Red Sea. The advisory went out Tuesday, though the underlying incident occurred Monday.
Saudi oil facilities targeted by Houthi attacks have added to worries about supply. Bjorn Vang Jensen, executive industry advisor at Xeneta, told CNBC's "Access Middle East" on Tuesday that damage to oil production, storage, and port infrastructure from such strikes risks broader disruption across the region.
Kitco noted, via CNBC, that the oil price gains were further amplified by the relatively hawkish signals Federal Reserve Chair Kevin Warsh sent at his inaugural FOMC meeting, with markets still uncertain about the central bank's rate call due Wednesday.
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