The price of Brent crude oil, a key international benchmark, spiked Thursday to over $105 per barrel following reports that President Donald Trump could soon restart active hostilities against Iran.
The Atlantic reported Wednesday that the White House “has asked the Pentagon to develop strike options against Iranian targets that could be exercised ahead of the midterms” in November. NBC News also reported that the Trump administration is mulling large-scale military operations.
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Trump said at a campaign rally on Wednesday that he doesn’t really want a peace deal with Iran.
Oil prices have hovered around $100 a barrel over the past week even as oil exports out of the Middle East have neared pre-war levels. Some experts say stubbornly elevated prices reflect a risk premium of transiting the Strait of Hormuz, where Iran has escalated attacks in recent weeks.
The Yemeni Houthis claimed on Thursday to have again hit Saudi Arabia’s main airport in Riyadh.
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