WTI crude falls 0.65% to $93.65 after US military action in the Strait of Hormuz raises supply disruption concerns.
US forces struck Iranian military sites linked to attacks on warships in the Strait of Hormuz, a critical oil transit route. The operation targeted facilities responsible for missile and drone launches but avoided hitting US assets, according to military statements.
Prior to the strikes, Iran launched multiple missiles and drones at three US warships, though no damage was reported. Markets had priced in geopolitical risks in the region, with oil prices volatile amid fears of broader conflict disrupting supply.
West Texas Intermediate crude dropped 0.65% to $93.65, reflecting investor caution over potential escalation despite US assurances of de-escalation efforts.