Oil prices dip slightly as markets assess limited immediate fallout from US retaliatory strikes on Iranian military sites.
The US conducted a wave of strikes against Iranian Islamic Revolutionary Guard Corps (IRGC) targets, including command centers, missile facilities, and coastal defense sites. The operation followed an attempted missile attack on US forces in the Middle East, which was fully intercepted.
Iran launched ballistic missiles on July 28 in a surprise attack, but all were neutralized. Over 50,000 US troops remain deployed in the region, with heightened readiness. The strikes aimed to reduce threats to US forces, commercial shipping, and Gulf allies.
Markets showed muted reaction, with WTI crude oil falling 84 cents to $83.62 amid uncertainty over the duration of the conflict.