Oil Drops 5% as US Strikes Iran But Spares Pipelines and Power Plants
Oil prices fell sharply after the United States completed a new series of military strikes against Iran, deliberately avoiding key energy infrastructure.
The price of crude dropped as the United States launched a new wave of airstrikes against Iranian targets, but deliberately spared bridges, pipelines, and power plants, easing fears of a major disruption to global energy supplies [207012]. The strikes came after Iran launched missiles at American targets in Jordan and attacked ships in the Strait of Hormuz, actions that had previously sent oil prices jumping above $90 a barrel [206926][206845][206434]. In response, the US and Saudi Arabia carried out joint precision airstrikes in Iraq, targeting Iran-backed militia groups that Washington says were ordered by Iran’s Revolutionary Guard to attack American military sites and Saudi oil infrastructure [206181][206275]. The coordinated strikes killed at least 20 fighters and hit logistics and weapons facilities across eastern Iraq [206687][206637]. Analysts warned that while the market reacted positively to the limited scope of the US strikes, the broader conflict remains volatile and could still disrupt supply routes in the coming weeks [206926][206845].