A US military strike destroyed two Iranian rocket launchers on Larak Island in the Persian Gulf, triggering a rise of over 1% in oil prices. This action has revived concerns over potential disruptions to oil supply through the Strait of Hormuz, a strategic shipping route for global crude deliveries. Brent crude was trading around $89.77 per barrel and WTI at $83.40 per barrel, both up from levels earlier in the month. Market participants are now assessing the risks of further oil price increases amid heightened geopolitical tensions between the United States and Iran.
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