Two tankers were hit in the Strait of Hormuz as U.S. airstrikes hit Iranian facilities. Brent crude rose 1.8% to near $78 as war risk insurance widened.
Alpha Score of 40 reflects weak overall profile with weak momentum, poor value, weak quality, weak sentiment.
Two oil tankers came under attack in the Strait of Hormuz on Tuesday, hours after the U.S. military launched a fresh round of airstrikes against Iranian positions in the region.
The tanker attacks, reported by maritime security firms, did not immediately disrupt traffic through the strait, the chokepoint for roughly a fifth of global oil supply. One vessel reported minor damage and was able to continue under its own power, according to a security alert.
The U.S. strikes targeted Iranian missile and drone facilities in southern Iran, the Pentagon said. The operation followed a weekend attack on a U.S. naval vessel in the Persian Gulf that Washington attributed to Iran-backed forces.
Crude oil prices rose 1.8% on the session, with Brent crude trading near $78 a barrel. The risk premium on tanker war insurance for Gulf transits widened, brokers said.
The attacks come as Iran's oil exports have climbed to multi-year highs despite U.S. sanctions, with much of the crude moving through the Strait of Hormuz on vessels flagged to third countries. Any sustained disruption to the waterway would hit refiners in Asia and Europe that depend on Middle Eastern crude.
The Pentagon declined to comment on whether additional naval assets were being moved into the Gulf. The U.N. Security Council scheduled an emergency session for Wednesday.
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