World News
Crude Futures Jump After Israel and Iran Exchange Fresh Attacks
Crude futures rose sharply on Monday morning after Israel and Iran launched fresh attacks against each other.
The ICE August Brent contract traded at $96.38/bl as of 5:11 AM in London, up 3.5% from Friday's settlement of $93.09/bl.
The move higher came after Israel said its air force had struck military targets in western and central Iran on Monday.
"The Israeli Air Force struck military targets belonging to the Iranian terror regime in western and central Iran a short while ago," the Israel Defense Forces said in a social media post on Monday.
The latest escalation followed reports that US President Donald Trump had told Israeli Prime Minister Benjamin Netanyahu to refrain from further attacks as peace negotiations progress.
On Sunday, Israel reportedly struck targets in Beirut for the first time since a Lebanon truce plan was announced last week. Iran responded by launching missile attacks against Israel.
The latest attacks raise fresh doubts over the prospects for a peace deal and may further delay a return to normal vessel movements through the Strait of Hormuz. Traffic through the key shipping route has been disrupted since the conflict began in late February.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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