Brent Tops $124 as US Weighs Hypersonic Strikes on Iran
Brent crude jumped above $124 per barrel, its highest since June 2022, while WTI neared $109 as US military leaders ready a briefing on hypersonic missile strike options against Iran. Closure of the Strait of Hormuz has slashed crude and gas flows, intensifying supply constraints and spurring US blockade planning.
1. Brent Crude Rallies Above $124 per Barrel
Brent futures surged above $124 per barrel, reaching the highest intraday level since June 2022, while West Texas Intermediate approached $109. The rally reflects heightened geopolitical tensions and renewed risk premia in energy markets.
2. US Military Explores Hypersonic Missile Deployment
US Central Command is preparing to brief the President on possible deployment of hypersonic missiles to the Middle East, signaling that direct combat operations or targeted strikes against Iran are under active consideration.
3. Strait of Hormuz Closure Intensifies Supply Constraints
The de facto closure of the Strait of Hormuz since February has cut global crude and natural gas shipments, exacerbating supply shortages and prompting US discussions on extending naval blockades to maintain pressure on Iran.