US-Iran strikes hit oil prices

Oil prices edged lower on Thursday as investors weighed the uncertainty of renewed military strikes between the United States and Iran that risk disrupting Middle East supplies. Brent crude fell 0.45% to $95.20 a barrel, while WTI slipped 0.26% to $90.77. The latest attacks were the most substantial exchange of fire since July, with the conflict now in its seventh month. US President Donald Trump said US forces targeted Iran's radar and missile systems and destroyed new equipment along the Strait of Hormuz, adding that the campaign would not last 'too long'. Shipping data from Kpler showed only four commodity vessels transited the Strait, below the 10-day average of about 13, while Iran added more ships to its list of non-compliant vessels subject to fines or detention. The US reported that 17 million barrels of oil transited the strait on Monday, the largest volume since the war began. Analysts noted tentative signs of easing tensions, but cautioned that a return to normal oil flows depends on the lull holding.