US-Israel-Iran War Live News: The war in the Middle East has returned to the centre of global energy and financial markets after renewed military exchanges pushed Brent crude above $91 a barrel and kept the Strait of Hormuz under intense scrutiny. Oil traders are now assessing the risk of further supply disruptions as Washington threatens additional action against Tehran.
At the same time, Iran is pushing back against claims that US sanctions have driven its economy towards collapse. Central Bank Governor Abdolnaser Hemmati said Tehran has sufficient foreign currency reserves and is prepared to inject up to $2 billion into the foreign exchange market to stabilise the rial.
US-Israel-Iran War Live News: Oil Prices Rise as Strait of Hormuz Supply Fears Revive
Oil prices climbed on Tuesday as renewed fighting between the US and Iran revived concerns about crude supplies from the Middle East.
Brent crude rose 0.7% to $91.15 a barrel, while US West Texas Intermediate gained 0.8% to $86.46. The move followed a much stronger session on Monday, when Brent jumped 2.7%, and WTI advanced 2.8%.
The renewed price increase reflects concerns that further military action could threaten energy infrastructure or restrict the movement of tankers through the Gulf.
US-Israel-Iran War Live News: Strait of Hormuz Risk Returns to Focus
The Strait of Hormuz remains one of the biggest risks for the global oil market. Kpler data showed that only five commodity vessels crossed the waterway on Monday – four entering and one leaving – compared with a recent 10-day average of around 14 vessels. None of the five vessels was a liquid tanker.
The reduced traffic has heightened concerns about the movement of crude, refined fuels and other commodities through the strategic waterway. Any further attacks, mining activity or restrictions on shipping could push up the supply risk premium in oil prices.
US-Israel-Iran War Live News: Oil Prices Today
Brent crude is trading above the $91 level after the latest escalation.
- Brent Crude: $91.15/barrel
- Brent Daily Move: +0.7%
- WTI Crude: $86.46/barrel
- WTI Daily Move: +0.8%
- Previous Brent Session: +2.7%
- Previous WTI Session: +2.8%
AP also reported Brent at around $91.23 and WTI at approximately $86.62 in Tuesday trading, showing that crude remained firmly above the $90 threshold.
US-Israel-Iran War Live News: Trump Threatens Further Strikes on Iran
The latest escalation followed renewed US-Iran military exchanges.
The United States struck Iranian rocket launchers on Larak Island, according to reports, while Iran responded with missile attacks targeting US forces in Jordan. The attacks have raised fears that the conflict could once again intensify after a period of reduced direct fighting.
US President Donald Trump has also threatened further military action against Iran. His warnings have added another layer of uncertainty for oil traders and shipping companies already monitoring the Strait of Hormuz.
US-Israel-Iran War Live News: Iran Rejects US Claim of Economic Collapse
Iran has rejected claims that US sanctions have pushed its economy into collapse. Central Bank Governor Abdolnaser Hemmati said Iran continues to hold foreign-currency resources and can continue meeting essential financial requirements despite the pressure from Washington.
Hemmati also said the central bank continues to collect foreign-currency receivables and has domestic reserves and other resources. His comments came after US Treasury Secretary Scott Bessent argued that Iran was responding aggressively because Washington’s economic pressure was hurting Tehran.
US-Israel-Iran War Live News: Iran Central Bank Ready With $2 Billion Investment
Iran’s central bank is prepared to inject up to $2 billion into the foreign-exchange market to reduce volatility, Hemmati said. The intervention aims to support the Iranian rial and reassure businesses and consumers facing renewed currency pressure.
Hemmati said, “I say to the American president that we have enough foreign currency.” He also said Iran has enough currency to continue meeting its needs and that the central bank has access to foreign-currency receivables and domestic resources.
US-Israel-Iran War Live News: Iran’s Currency Faces Renewed Pressure
Iran’s financial system continues to face significant pressure despite the central bank’s assurances. The Iranian rial fell beyond 2 million rials per US dollar in August, reaching a record low, while annual inflation climbed to 66% in July, according to Reuters.
The latest military escalation could add further pressure if it restricts oil exports, foreign-currency earnings or international trade. Hemmati, however, attributed much of the recent currency weakness to the psychological impact of the crisis rather than only underlying economic conditions.
US-Israel-Iran War Live News: Oil Market Watches Gulf Energy Infrastructure
Oil traders are now watching Gulf energy infrastructure as closely as crude production figures.
The renewed fighting has increased concerns that Iran could retaliate against energy facilities or shipping routes in the region. Analysts have warned that any damage to infrastructure around the Gulf could tighten global oil supplies and send prices higher.
The restricted traffic through the Strait of Hormuz adds to that risk. The waterway normally carries a major share of global oil and gas shipments, making prolonged disruption a major concern for importers and energy markets.
US-Israel-Iran War Live News: What’s Next?
The next major market trigger will be whether the US-Iran confrontation expands further or remains limited. For oil traders, the key indicators will include Brent crude above $91, tanker traffic through the Strait of Hormuz, attacks on Gulf energy infrastructure and changes in Iranian oil exports.
Iran’s currency market will also remain in focus after the central bank offered as much as $2 billion in potential intervention. The rial’s recent fall beyond 2 million per dollar and 66% annual inflation show the scale of the economic pressure Tehran is trying to contain.
For global markets, the combination of higher oil prices, restricted shipping and renewed military tensions could keep inflation and interest-rate concerns elevated.
