Add as a preferred source on GoogleU.S. Strikes Near Hormuz Send Brent Back Above $106 a Barrel
A U.S. official called the Nov. 2 action defensive. Vice President JD Vance had expressed optimism about reaching a negotiated agreement earlier that day.
U.S. forces struck Iranian targets near the Strait of Hormuz on Nov. 2, a U.S. official said, sending Brent crude futures back above $106 a barrel as negotiations between Washington and Tehran remained unresolved.
The official described the operation as defensive. Brent futures were at $106.35 a barrel at 1:47 a.m. ET Tuesday, up about 1.5% from the previous session’s $104.77 settlement. U.S. West Texas Intermediate crude was $97.97, up about 1.6% at the same time.
Vice President JD Vance said earlier Monday that he and President Donald Trump felt positive about reaching an agreement through negotiations. Vance also said Iran was unpredictable, Trump retained military and nonmilitary options, and Washington had set no deadline for a deal.
Mediators were discussing a possible arrangement under which Iran would stop attacks on commercial shipping in the Strait of Hormuz in exchange for the U.S. lifting its blockade of Iranian ports.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.