Oil Rises After Fresh US Strikes on Iran

2026-06-09 23:26 By Jam Kaimo Samonte 1 min. read

Crude oil climbed toward $89 per barrel on Wednesday, recovering part of the previous session’s losses after the US launched new strikes against Iran following the downing of an American helicopter, raising concerns over the durability of a fragile ceasefire and the outlook for a longer-term peace agreement.

The US military said President Donald Trump ordered the “self-defense strikes” in response to an Apache helicopter being shot down.

Iranian Foreign Minister Abbas Araghchi responded that Iran’s armed forces would not leave any attack or threat unanswered.

Oil prices had tumbled as much as 5.9% on Tuesday after Israel and Iran agreed to suspend hostilities following a renewed flare-up in the conflict.

Meanwhile, industry data from the API showed US crude inventories fell by 9.1 million barrels last week to their lowest level in four months, as buyers sought to replace supplies disrupted by the turmoil in the Persian Gulf.



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Oil Rises After Fresh US Strikes on Iran
Crude oil climbed toward $89 per barrel on Wednesday, recovering part of the previous session’s losses after the US launched new strikes against Iran following the downing of an American helicopter, raising concerns over the durability of a fragile ceasefire and the outlook for a longer-term peace agreement. The US military said President Donald Trump ordered the “self-defense strikes” in response to an Apache helicopter being shot down. Iranian Foreign Minister Abbas Araghchi responded that Iran’s armed forces would not leave any attack or threat unanswered. Oil prices had tumbled as much as 5.9% on Tuesday after Israel and Iran agreed to suspend hostilities following a renewed flare-up in the conflict. Meanwhile, industry data from the API showed US crude inventories fell by 9.1 million barrels last week to their lowest level in four months, as buyers sought to replace supplies disrupted by the turmoil in the Persian Gulf.
2026-06-09
Oil Falls to 7-Week Low
Crude oil fell around 3% to below $86 per barrel on Tuesday, the lowest since April 17, after Israel and Iran agreed to halt attacks following a renewed escalation in hostilities. Israeli Prime Minister Benjamin Netanyahu said Israel would pause strikes but warned it would respond to any further attacks from Tehran, while Iranian media reported a similar position. President Donald Trump said this week that negotiations were entering the final stage and that a clearer outcome could emerge within days. Meanwhile, China’s crude imports dropped to around 7.8 million barrels per day last month, the lowest level in more than eight years and nearly 4 million barrels per day below the 2025 average. Weaker demand from the world’s largest oil importer, combined with record US exports and emergency reserve releases, has helped limit the price impact of the conflict. Oil remains above prewar levels but well below recent highs.
2026-06-09
Oil Drops as Iran and Israel Halt Strikes
Crude oil fell below $90 per barrel on Tuesday after surrendering most of the previous session’s gains, as Iran and Israel agreed to halt attacks against each other, boosting hopes that peace negotiations could move forward. The two countries exchanged strikes over the weekend, threatening a fragile ceasefire and fueling fears of a broader escalation. President Donald Trump urged both sides to deescalate and said talks with Tehran are continuing, adding that oil prices should ease once the conflict ends. While the ceasefire remains intact, the Strait of Hormuz is still effectively closed under a dual blockade by the US and Iran, severely disrupting shipments of crude, refined fuels, and natural gas to global markets.
2026-06-08