U.S. Strikes Iran While Brent Rises 2% Amid Gulf Tensions

The U.S. has completed airstrikes against Iranian military targets for the third consecutive night, impacting Iran's ability to attack commercial shipping. Iran retaliated by targeting two Emirati oil tankers, resulting in one fatality and multiple injuries. The traffic through the Strait of Hormuz has declined by 52% from July 10 to 12 as shipowners alter routing patterns due to security concerns. Brent crude prices rose by 2% to $85 a barrel, highlighting the potential influence on oil markets amidst increasing war risk premiums.