Oil rises to a six-week high amid US-Iran tensions
Oil prices rose amid escalating tensions between the United States and Iran, fueling concerns over possible disruptions to oil shipments through the Strait of Hormuz. Brent futures as of 06:30 GMT on September 8 gained 1.4% to $98.5 per barrel, reaching a six-week high. Futures for US WTI crude also rose by 1.4% to $94 per barrel, Anadolu Agency reports.
Attacks in Saudi Arabia
Yemen’s Houthi movement attacked cities and economic infrastructure facilities in southern Saudi Arabia on September 8, the Saudi-led military coalition said. According to the coalition, the attacks resulted in deaths.
Saudi Arabia’s Energy Ministry also reported fires at energy facilities in the south of the country following attacks on those facilities.
More current news is available on the UA.News Telegram channel Telegram.
Iranian statements and the situation in the Strait of Hormuz
Iran’s Islamic Revolutionary Guard Corps said on September 7 that it had carried out a drone strike near Erbil airport in northern Iraq and destroyed a tethered US surveillance aerostat.
Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, said the same day that Iran would announce a new “limited” maritime zone outside the Strait of Hormuz in the coming days. He warned that any vessel entering the zone would be placed on a sanctions list.
Yemen’s Coast Guard intercepted an oil tanker on September 6 after it unloaded an “unauthorized” cargo at the Houthi-controlled Ras Isa port in Al Hudaydah governorate, state media reported. In June, the United States and Iran signed a memorandum, mediated by Pakistan and Qatar, on steps to end hostilities, open the Strait of Hormuz and resolve economic restrictions. Since then, the sides have accused each other of failing to fulfill commitments under the memorandum, while military tensions and disputes over sanctions and shipping through the strait continue.
