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Oil Prices Climb on U.S.-Iran Tensions and Saudi Missile Interception

Wall Street Journal Markets •
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Oil futures rose in early trading as concerns mounted over potential supply disruptions stemming from escalating tensions between the U.S. and Iran. President Trump reiterated threats against Iran during a White House address, warning that failure to end the conflict and reopen the Strait of Hormuz could cripple the country's infrastructure, including its energy sector. Saudi Arabia disclosed that it had intercepted seven ballistic missiles targeting its oil-rich Eastern Region, with debris landing near key energy facilities. Front-month WTI crude oil futures climbed 1.1% to $113.64 per barrel, while front-month Brent crude oil futures increased 0.4% to $110.25 a barrel. These developments signal heightened market anxiety over potential disruptions to global oil supplies.