Oil Rises as U.S. Mulls Major Combat Operations against Iran
Oil prices rose Friday after reports that US President Donald Trump had been briefed on options for military action against Iran renewed concerns about Middle East oil supplies.
International benchmark Brent crude futures for January delivery rose about 1.75% to $112.74, compared with the previous close of $110.80.
US benchmark West Texas Intermediate (WTI) crude futures for December delivery increased 1.68% to $103.71 a barrel, up from $102 at the previous close.
Adm. Brad Cooper, head of U.S. Central Command, briefed Trump at the White House on Thursday as Washington considers resuming major combat operations against Iran, The Wall Street Journal reported.
Defense Secretary Pete Hegseth, Joint Chiefs of Staff Chairman Gen. Dan Caine and other Cabinet members attended the meeting, the newspaper said, citing US officials and people familiar with the discussions. Military officials had met with Vice President JD Vance a day earlier.
The discussions come as the Trump administration considers a potential new military campaign against Iran following the US and Israeli bombing campaign earlier this year.
Meanwhile, the US has transferred 10 military cargo aircraft to Israeli air bases in the southern Negev region amid preparations for a possible military strike against Iran, the Israeli public broadcaster KAN reported Thursday.
The broadcaster said the aircraft landed at Ovda and Nevatim air bases, while additional US military planes were reportedly dispatched to bases in Jordan, Saudi Arabia and Qatar.
There was no immediate US confirmation of the reported deployments, and it remained unclear what cargo the aircraft were carrying or whether Washington had decided to launch an attack against Iran.
Adding to supply concerns, an oil tanker was struck by an unidentified projectile while transiting the Strait of Hormuz on Thursday.
In a warning issued Thursday, the United Kingdom Maritime Trade Operations (UKMTO) said it received a report from a company security officer that a tanker had been hit by an unknown projectile while completing an outbound transit of the strategic waterway.
“No injuries to the crew or environmental impact” have been reported so far, the UKMTO said. The agency urged vessels operating in the area to exercise caution and report suspicious activity as authorities investigate the incident.
Iran’s Revolutionary Guard navy also said an oil tanker east of the Strait of Hormuz had struck a mine while sailing through what it described as a prohibited and unsafe area. Wall Street, FTSE 100 Surge as AI Shares Gain Momentum
