On Wednesday, reported U.S. military action near the Strait of Hormuz pushed oil prices above $90 a barrel again as investors weighed rising geopolitical tensions against ongoing diplomatic talks between Washington and Tehran.
Oil Prices Jump As US Strikes Raise Strait Of Hormuz Concerns
Dow futures rose 37.00 points, or 0.07%, to 50,765.00, while S&P 500 futures gained 7.50 points, or 0.10%, to 7,547.50 and Nasdaq 100 futures climbed 23.25 points, or 0.08%, to 30,070.50 as of around 9:23 p.m. EDT.
In commodities, WTI crude oil added 1.69% to $90.18 per barrel. Brent crude gained 2.03% to $96.20 per barrel.
Meanwhile, the U.S. dollar index stood at 99.309, up 0.09%.
Asian markets were mixed, with South Korea’s KOSPI slipping 0.04% to 8,225.79 and Japan’s Nikkei 225 falling 0.16% to 64,896.29.
US Hits Iranian Target Near Strait Of Hormuz
A U.S. official, speaking anonymously to Reuters, said American forces struck an Iranian ground control station in Bandar Abbas that was allegedly preparing to launch attack drones.
The official also said U.S. forces shot down four one-way drones that posed a threat near the Strait of Hormuz.
“These actions were measured, purely defensive, and intended to maintain the ceasefire,” the official said.
Earlier on Monday, the U.S. Central Command said American forces carried out strikes on Iranian missile launch sites and vessels allegedly attempting to deploy mines near strategic waterways.
Iran Nuclear Talks Continue Amid Fresh Friction
The latest developments come as Washington and Tehran continue negotiations aimed at preserving a fragile ceasefire that has largely held since April 7.
Ebrahim Azizi, head of Iran’s National Security Committee in parliament, criticized President Donald Trump’s approach on X.
He wrote, “It is obvious Trump, seeking a way out of this strategic deadlock, alternates between issuing threats and appealing for an agreement.”
Trump earlier said negotiations were “proceeding nicely,” while also reiterating that Iran’s enriched uranium stockpile must ultimately be surrendered or destroyed as part of any agreement.
Reports suggest talks remain complicated by disagreements over sanctions relief, uranium enrichment and future oversight of shipping through the Strait of Hormuz.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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