Why Did US Bomb Iran Again? Crude Oil Prices Surge Again Amid Rising Tensions
Escalating tensions between the United States and Iran have once again triggered a surge in crude oil prices across Asia on Friday morning.
The price of the global oil benchmark, Brent crude, rose by 2.6% to $102.70 per barrel, while U.S.-traded crude climbed 2.3% to reach $97 per barrel.
Exchange of fire between U.S. and Iran in the Strait of Hormuz
The developments stem from an exchange of fire between the U.S. and Iran in the Strait of Hormuz. Following the incident, the U.S. military stated that it launched a retaliatory strike to thwart "unprovoked" attacks initiated by Iran.
U.S. President Donald Trump stated, "The American vessels that came under attack were three U.S. destroyers, which passed through the Strait of Hormuz unscathed. In the retaliatory strike, several small Iranian boats were completely destroyed, and the missiles targeting the American vessels were easily intercepted."
Iran accuses US of violating ceasefire
On the other hand, the Iranian military has accused the United States of violating the ceasefire agreement.
The United States has claimed that it has carried out bombing strikes on military bases in Iran.
It stated that it took this step in response to Iranian attacks on U.S. vessels in the Strait of Hormuz.
Meanwhile, Iran claims that it fired the missiles because an Iranian oil tanker had been attacked first.
Trump had earlier said that war with Iran would end quickly
U.S. President Donald Trump had stated on Wednesday evening that a war with Iran would end quickly.
In a statement, the United States Central Command (CENTCOM) said, "As U.S. Navy guided-missile destroyers were transiting through the Strait of Hormuz toward the Gulf of Oman, U.S. forces intercepted Iranian attacks and took retaliatory action in self-defense."
The statement added that as the U.S. vessels were passing through the region, Iranian military forces launched attacks using multiple missiles, drones, and small boats.