Oil rises $2 as Iran announces closure of Strait of Hormuz following U.S. strikes
Oil prices climbed more than $2 a barrel on Thursday (June 11) as Iran declared the critical energy chokepoint, the Strait of Hormuz, closed after the U.S. launched additional strikes against Iran.
Brent futures rose $2.30, or 2.47%, to $95.40 a barrel, while U.S. West Texas Intermediate (WTI) crude climbed $2.60, or 2.89%, to $92.63. U.S. crude futures gained more than $3 earlier in the session.
Iran’s top joint military command announced the closure of the Strait of Hormuz on Thursday, including oil tankers and commercial ships, saying any vessel that will attempt passage will be shot at.
However, the U.S. military said on X on Wednesday that commercial ships continue to transit in and out of the strait.
-Reuters