Oil prices rallied again on Monday morning after Iran’s Fars news agency reported that two missiles struck a U.S.
Oil prices rallied again on Monday morning after Iran’s Fars news agency reported that two missiles struck a U.S. Navy vessel near Jask Island on the Gulf of Oman, just outside the eastern entrance to the Strait of Hormuz.
Brent crude for July delivery was up 2.82% to trade at $111.12 per barrel at 8:00 am ET while WTI crude for June delivery rallied by a similar margin to change hands at $104/bbl. According to Fars, Iran’s semi-official news agency, the vessel ignored repeated warnings by the Islamic Revolutionary Guard Corps (IRGC)…