Oil Benchmarks Climb After U.S. Strike on Iranian Tankers

U.S. forces destroyed five Iranian oil tankers, according to reports from CENTCOM. This action followed an attack by Iran using ballistic missiles against a U.S. Navy warship, which has increased tensions regarding oil transport routes.

The geopolitical conflict led to a surge in crude oil prices. Brent crude reached $96.28 per barrel, marking a weekly gain of 7.6%. WTI crude rose to $91.48 per barrel, with weekly gains of nearly 10%.

Prediction markets are reflecting these tensions. The probability of crude oil reaching an all-time high by September 30 is currently 1.2%, while the probability for December 31 is higher at 10.5%.

Market participants are monitoring the responses of Saudi Energy Minister Abdulaziz bin Salman Al Saud and OPEC Secretary-General Mohammad Sanusi Barkindo, as their decisions may affect future supply dynamics.