{"id":3703,"date":"2026-11-03T09:03:50","date_gmt":"2026-11-03T04:03:50","guid":{"rendered":"https:\/\/ipp-news.com\/?p=3703"},"modified":"2026-11-03T09:03:50","modified_gmt":"2026-11-03T04:03:50","slug":"oil-rises-after-report-of-us-strike-on-irans-qeshm-island","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=3703","title":{"rendered":"Oil rises after report of US strike on Iran’s Qeshm Island"},"content":{"rendered":"
\n

Oil prices rose in early Asian trade on Tuesday after a report that the United States had struck Iran\u2019s Qeshm Island, raising concerns about an \u200bescalation of the eight-month conflict and prolonged disruptions to Middle East oil \u200csupplies.<\/strong><\/p>\n

Brent crude futures rose 48 cents, or 0.5%, to $105.25 a barrel while US West Texas Intermediate crude was up 47 cents, or 0.5%, at $96.93 a barrel.<\/p>\n

Brent crude futures settled $8.66, \u200bor 7.63%, lower to $104.77 a barrel on Monday.<\/p>\n

The United States struck Iran\u2019s Qeshm Island, \u200bthe Wall Street Journal reported, citing US officials.<\/p>\n

Some of the officials described \u2060the assaults as defensive in nature to prevent Iran from having the freedom \u200bto attack commercial ships in the Strait of Hormuz.<\/p>\n

\u201cThe report added a degree of risk \u200bpremium back into the oil price. Just when markets were starting to price in a more diplomatic path, this reminder of ongoing military activity has flipped the tone,\u201d said Tim Waterer, chief market \u200banalyst at KCM Trade.<\/p>\n

Meanwhile, Tehran said on Monday that contacts between Iran and the \u200bUS to end their war are continuing<\/a>, after days of Iranian talks with Qatari mediators ended with altered \u200cproposals \u2060but no breakthrough.<\/p>\n

Trump raised doubts on Monday about whether he would follow through on a threatened resumption of military strikes against Iran and said a deal with Tehran could happen<\/a>.<\/p>\n

The US-Iran conflict that began in late February has sharply reduced traffic through the Strait of Hormuz, which previously carried about a fifth of global crude oil and natural gas supplies.<\/p>\n

The Iran war is a leading cause of high gasoline prices that are weighing on \u200bvoters, and Trump is under pressure to end the conflict.<\/p>\n

Brent ended \u200bOctober at \u2060its highest in six months on concerns that the Middle East conflict could escalate again after Tuesday\u2019s US midterm elections.<\/p>\n

Iranian President Masoud Pezeshkian said Supreme Leader Ayatollah Mojtaba Khamenei had \u2060granted \u200bthe government certain authorities for peace talks.<\/p>\n

Additionally, the US will \u200bbring together delegations from Ukraine and Russia in Abu Dhabi on November 10-11 to discuss ending Moscow\u2019s war<\/a> against \u200bUkraine, post-war security agreements and de-escalation.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices rose in early Asian trade on Tuesday after a report that the United States had struck Iran\u2019s Qeshm Island, raising concerns about an \u200bescalation of the eight-month conflict and prolonged disruptions to Middle East oil \u200csupplies. Brent crude futures rose 48 cents, or 0.5%, to $105.25 a barrel while US West Texas Intermediate crude was up 47 cents, or 0.5%, at $96.93 a barrel. Brent crude futures settled $8.66, \u200bor 7.63%, lower to $104.77 a barrel on Monday. The United States struck Iran\u2019s Qeshm Island, \u200bthe Wall Street…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-3703","post","type-post","status-publish","format-standard","hentry","category-english"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3703"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3703\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}