AZE.US
The United States has launched a new round of strikes against Iranian targets near the Strait of Hormuz, triggering a sharp rise in global oil prices.
U.S. President Donald Trump said the operation was retaliation for Iran’s alleged attempt to deploy additional sea mines in the strategic waterway and its launch of eight missiles at an American military base in Jordan.
Trump described the U.S. response as “justified” and warned that Iran would face significantly larger strikes if it retaliated again. Reuters reported that the attacks targeted Iranian facilities near the Strait of Hormuz.
U.S. Central Command said American forces began striking sites linked to Iran’s Islamic Revolutionary Guard Corps at noon Eastern Time.
According to CENTCOM, the operation followed attempted attacks against commercial shipping in the strait and U.S. service members deployed in the region.
Oil Prices Jump More Than 4%
Renewed fighting intensified fears of prolonged disruptions to oil shipments through the Strait of Hormuz, one of the world’s most important energy corridors.
Brent crude futures rose by $4.16, or 4.6%, settling at $94.65 per barrel. U.S. West Texas Intermediate gained $4.46, or 5.2%, to close at $90.22.
The figures marked Brent’s highest closing price since July 24 and WTI’s highest since July 23. Oil prices were also supported by reports that two tankers had been struck while leaving the Strait of Hormuz. Reuters said Tehran had threatened to prevent oil exports from the Gulf if the confrontation continued.
What It Means for Azerbaijan
Higher oil prices could strengthen Azerbaijan’s export revenues if the increase proves sustainable. The country’s 2026 state budget is based on an average oil price of $65 per barrel.
Brent’s latest closing price was therefore $29.65 – or about 46% – above the budget benchmark. Azerbaijan’s Azeri Light crude normally trades at a premium to Brent because of its lower sulfur content and other quality characteristics.
However, a prolonged conflict around the Strait of Hormuz would also increase global transportation, fuel and insurance costs, potentially adding to inflationary pressure in Azerbaijan and other energy-importing markets.
AZE.US