Oil Prices Bounce Back Following Reports of U.S. Strikes on Iran

S. strike on Iran’s Qeshm Island. S. officials as saying Iran’s Qeshm Island became a target in what they said was the latest in a series of “ limited strikes Washington has secretly carried out” over the past few weeks on Iran. The report counters earlier media coverage about continued diplomatic efforts to end the war that has caused the most severe disruption in global oil and gas supply in history.

It also goes against coverage indicating President Trump was not determined to resume strikes on Iran. “We had a war with Iran. We won,” Trump told media on Monday, as quoted by the Wall Street Journal. ” “The report added a degree of risk premium back into the oil price.