The Brent Crude futures contract has opened above $78 after the US has launched another round of strikes against IRGC targets in the Persian Gulf earlier this morning after Iran struck a commercial vessel in the Strait of Hormuz during the weekend.
The Iranian regime has claimed that the Strait of Hormuz will remain closed to vessels which don’t follow its procedure, however maritime data shows that vessels are still exiting the Strait. The Pentagon has claimed that commercial vessels have been able to transit through the Strait of Hormuz with the help of its navy.
The tit-for-tat exchange of fire between Iran and the US is becoming ever more regular after talks collapsed. Iran also targeted the Gulf countries again in the weekend and killed a child in Qatar in one of its strikes despite Qatar trying to act as a mediator between the two parties.
It is unclear whether talks between Iran and the US are ongoing but the deal signed at Versailles by US President Donald Trump does not look like it is going to be implemented with the Iranian regime insisting it wants to retain full control of the strait. However, despite the Iranian regime’s insistence about its control over the strait, maritime data is showing that commercial vessels are increasingly taking the risk of passage with no new incidents reported following Iran’s attack against the GFS Galaxy.
Newsroom
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