Oil nears $100 as US launches new strikes on Iranian tankers

{"text":[[{"start":14.8,"text":"Crude prices jumped to nearly $100 a barrel after the US launched strikes on Iranian oil tankers and Houthi militants hit Saudi Arabian energy infrastructure in a new escalation in the Middle East conflict."}],[{"start":27.382,"text":"US forces “destroyed” five Iranian crude oil tankers on Tuesday in retaliation for the Islamic Revolutionary Guard Corps targeting an American warship with ballistic missiles twice over the past two days, said US Central Command, which oversees Washington’s military operations in the Middle East."}],[{"start":45.44,"text":"Crude prices rose following the US strikes, with international benchmark Brent up 2.4 per cent from Monday’s settlement level to $99.34. Prices rose a further 1.5 per cent in Wednesday morning trading in Asia to $99.44."}],[{"start":62.88,"text":"Oil has rallied since late August as the US and Iran have repeatedly exchanged fire, shattering a period of relative calm after the warring countries agreed a memorandum of understanding in mid-June. Brent reached $126 in late April during the peak of hostilities but had fallen as low as $70 in July."}],[{"start":83.44,"text":"Tehran-backed Houthi militants have been hitting energy assets in the Middle East, deepening a supply crunch that has sent a jolt of inflation ricocheting across global economies and contributed to a strong sell-off in bond markets."}],[{"start":96.44,"text":"The vessels were part of Iran’s “shadow network that funds the IRGC and its regional proxies”, according to Centcom, which added that the tankers’ crews were told to abandon ship before the strikes. The vessels were hit near Kharg Island, Iran’s primary oil export hub."}],[{"start":111.72,"text":"Separately, Centcom said the US warship that Iran had targeted with ballistic missiles was not hit and no American personnel were hurt."}],[{"start":120.176,"text":"The US has attacked eight Iranian oil tankers in the past four days."}],[{"start":123.96,"text":"On Saturday, it said it struck three Iranian crude oil tankers after Tehran launched missiles at two American warships, with Centcom saying an aircraft carrier and guided-missile destroyer had “evaded” an IRGC attack."}],[{"start":136.84,"text":"The guards said that in response to the latest US attacks on Iranian oil tankers, it had targeted two American vessels and eight oil tankers, “inflicting heavy damage”. In addition, it said that 10 ships that “attempted to cross the prohibited and unsafe area of the Strait of Hormuz” were targeted."}],[{"start":155.6,"text":"The group also said early on Wednesday that it had carried out ballistic missile strikes on the US Al-Azraq Air Base in Jordan, where it hit maintenance and repair hangars, preparation facilities and shelters for fighter jets."}],[{"start":168.84,"text":"Iran has increasingly tried to strike a small fleet of ships engaged in risky shuttle runs ferrying oil from Gulf ports to more risk-averse vessels waiting outside the Strait of Hormuz. The IRGC has attacked at least four tankers since August 30, when the most recent round of direct strikes between the two sides resumed."}],[{"start":null,"text":"

"}],[{"start":189.24,"text":"Analysts have begun raising their crude price forecasts for the rest of the year and 2027, spurred by a growing realisation that disruption to flows of oil and gas from the region will be long lasting."}],[{"start":201.48,"text":"Eurasia Group has warned a recovery in Chinese demand and the continued stand-off in the Middle East would soon push oil prices above $100 per barrel."}],[{"start":210.72,"text":"“The main forces driving prices higher remain geopolitical conflict in the Middle East — both the US-Iran conflict in the Persian Gulf and the confrontation between Saudi Arabia and the Houthis in Yemen — as well as the Russia-Ukraine war,” the political risk group said in a note."}],[{"start":226.28,"text":"Earlier on Tuesday, Houthi militias targeted facilities in four southern cities in Saudi Arabia and caused a “temporary halt in some operations”, Riyadh’s energy ministry said."}],[{"start":237.36,"text":"The latest wave of attacks, one of the biggest rebel assaults on the kingdom, followed a strike on Saudi Aramco’s oil infrastructure in Jizan on Monday."}],[{"start":246.44,"text":"The Houthis have stepped up their attacks on Saudi Arabia at a time when the major oil exporter is struggling to ship cargoes from its east-coast terminals because of the Iranian threat to shipping through the strait."}],[{"start":257.56,"text":"The IRGC’s navy on Tuesday also said it had captured an uncrewed US submersible at the entrance of the waterway, according to Iranian state media."}],[{"start":264.44,"text":"Washington said one of its underwater drones in the region had malfunctioned “more than a day ago” while “surveying regional waters in support of ongoing operations”."}],[{"start":274,"text":"“The defective drone was an older model that neither collected sensitive data nor carried any classified sonar or radar equipment,” a US official said."}],[{"start":289.28,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1788928541_7579.mp3"}