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US Launches New Round of Airstrikes on Iran; Intl Oil Prices Climb ~3% Again
2026-07-08 08:12:09 The US launched a new round of airstrikes on Iran and revoked waivers allowing Iran to sell oil globally, following a series of vessel attacks in the Strait of Hormuz earlier. The US Central Command stated that the powerful attack was intended to make Iran pay a heavy price for attacks on international waterways. The latest US move poses a serious threat to the temporary agreement signed by the leaders of the US and Iran on June 17, potentially causing negotiations for a lasting peace to break down. Overnight (7th), Brent oil futures for September delivery closed at USD74.16 per barrel, up USD2.17 or 3%. New York oil futures for August delivery settled at USD70.44 per barrel, up USD1.89 or 2.76%. This morning (8th), Brent oil futures climbed another 2.72%, while New York oil futures gained 2.91%. Both the US and Iran accused each other of violating the ceasefire agreement. The US blamed Iran for attacks on commercial vessels in the Strait of Hormuz over the past day, while Iran said the US military action and revocation of waivers violated the agreement between the two sides, vowing to take decisive retaliatory action. ~ AASTOCKS Financial News Website: www.aastocks.com | |