The contracts for the future performance of slow oil contracts reduce rise more than 4%, wafter reports that two missiles hit a US warshipwhich ignored Iran’s warnings.
The IRGC Navy also published a new map defining areas of the Sea of Hormuz that are under Iranian military control.
On Sunday, Donald trump said the US would try to “free” cargo ships that have been stranded due to the closure of the Strait of Hormuz since the start of the war with Iran.
Meanwhile, OPEC+ agreed to a symbolic increase in June production quotas, signalling a business as usual stance following the United Arab Emirates’ withdrawal.
The Brent (July) contract is down 3.20%,at $112.20 a barrel on Wednesday (13:30 GMT), while US West Texas Intermediate crude (June contract) is down 2.96% at $104.96 a barrel.
