- Brent crude oil topped $100 per barrel on Wednesday, marking its highest level since late May, as tensions escalated in the Middle East.
- Iran has vowed it is prepared for a more intense war following the recent hostilities, according to a senior official from the Islamic Republic.
- Goldman Sachs has forecast that oil prices could rise above $120 per barrel due to the ongoing conflict.
- In retaliation for U.S. strikes, Iran launched missiles at a U.S. base in Jordan, damaging several fighter jets.
- The U.S. had previously struck five Iranian oil tankers in response to attempted attacks on its warships.
- The U.S. military's Central Command confirmed it destroyed five oil tankers associated with Iran's Islamic Revolutionary Guard Corps in retaliation for Iranian missile attacks.
- The Jordanian military reported that it intercepted 18 Iranian missiles launched toward its territory, with no casualties reported.
- Several fighter jets at a Jordanian military base were damaged in the Iranian strikes, including an A-10 Thunderbolt that was missing a wing.
Brent crude oil prices surged past $100 per barrel on Wednesday, marking a significant increase amid escalating tensions between the U.S. and Iran. The price rose 3.4%, closing in triple figures for the first time since July, as fears of disruptions in the Strait of Hormuz intensified.1
Iran's military officials declared their readiness for a more intense conflict, stating they would escalate strikes if the U.S. continued its military actions. This comes after the U.S. military confirmed it had destroyed five Iranian oil tankers in retaliation for attacks on a U.S. Navy warship.5
In a related incident, Iranian strikes on the Muwaffaq Salti Air Base in Jordan resulted in damage to multiple U.S. fighter jets, including eight F-15s and one A-10 Thunderbolt, which was reported missing a wing. Jordan's military intercepted 18 Iranian missiles, with no casualties reported, but the damage to U.S. aircraft raises concerns about the rapidly declining stockpile of Patriot missiles available for defense.7
As tensions escalate, analysts predict that oil prices could rise even further, with Goldman Sachs suggesting a potential peak above $120 per barrel if the conflict continues to intensify.3
“The U.S. struck five Iranian tankers in retaliation for attempted attacks on its warships, and Iran responded by targeting a base in Jordan, where roughly eight F-15s sustained light damage and one A-10 lost a wing. Goldman Sachs forecasts prices could rise above $120 a barrel.”
CBS News
