Oil Futures Rise 0.74% After U.S. Military Strikes on Iran

AI Summary

U.S. crude oil futures for July delivery increased by 0.74% to $88.89 per barrel after military strikes were launched against Iranian targets. Brent futures for August delivery rose by 0.82% to $92.20 per barrel. This military action follows the downing of an American Apache helicopter, which U.S. officials labeled a defensive response to Iranian aggression. Rystad Energy indicated that ongoing conflict could lead to further losses of up to 350 million barrels each month, amplifying existing supply disruptions of 11.8 million barrels per day across six Gulf producers.