Oil drilling rigs
Oil prices rose during trading today, June 11, after Tehran closed the Strait of Hormuz to all oil tankers and commercial vessels, in response to the US launching a new round of military strikes against Iranian targets. 
While the US Central Command denied Tehran’s claims of closing the Strait, President Donald Trump described the airstrikes carried out by US forces as a firm message to Iran to abide by the terms of the agreement, threatening further military operations if a final settlement is not reached soon.
Brent, WTI Futures Prices
Crude
Price ($/bbl)
Change ($)
Change
Brent (August delivery)
93.99
0.89
0.95%
US WTI (July delivery)
91.11
1.08
1.20%
*At 8:14 am Makkah time
Meanwhile, US crude oil inventories fell by 7.2 million barrels to 426.5 million barrels in the week ended June 5, compared with analysts’ expectations of a 4 million barrel decline, Energy Information Administration’s latest data showed.
Oil drilling rigs
Oil prices rose during trading today, June 11, after Tehran closed the Strait of Hormuz to all oil tankers and commercial vessels, in response to the US launching a new round of military strikes against Iranian targets.
While the US Central Command denied Tehran’s claims of closing the Strait, President Donald Trump described the airstrikes carried out by US forces as a firm message to Iran to abide by the terms of the agreement, threatening further military operations if a final settlement is not reached soon.
Brent, WTI Futures Prices
Crude
Price ($/bbl)
Change ($)
Change
Brent (August delivery)
93.99
0.89
0.95%
US WTI (July delivery)
91.11
1.08
1.20%
*At 8:14 am Makkah time
Meanwhile, US crude oil inventories fell by 7.2 million barrels to 426.5 million barrels in the week ended June 5, compared with analysts’ expectations of a 4 million barrel decline, Energy Information Administration’s latest data showed.
