Oil prices fall after Iranian officials threaten US over civilian deaths in Qeshm, escalating regional tensions.
West Texas Intermediate crude fell 1.2% to $82.60 after Iran accused the US of killing civilians in a strike on Qeshm island. Iranian Parliament Speaker Ghalibaf warned the US would “pay the price” for the attack, which reportedly killed a couple and their child.
The remarks followed Iran’s Islamic Revolutionary Guard Corps claiming responsibility for an attack on a Kuwaiti airbase hosting US forces. State media said the strike destroyed drone hangars and a fuel tank, heightening fears of further escalation in the Middle East.
Markets reacted swiftly, with WTI extending losses amid concerns over supply disruptions. The benchmark crude remains sensitive to geopolitical risks in key oil-producing regions.