US forces recently carried out a limited strike on Iran’s Qeshm Island in the Strait of Hormuz, The Wall Street Journal reported on November 2, citing US officials. Sources said the small-scale operation was deliberately kept low-profile to avoid giving the impression that the United States was preparing to resume large-scale military operations against Iran.
The reported attack was the latest in a series of limited US strikes on Iran in recent weeks. US Central Command has not responded to the report. Iran’s Islamic Republic News Agency previously reported several explosions on Qeshm Island.
News of the reported attack raised concerns that the US–Iran conflict could escalate further and affect Middle Eastern oil supplies. International oil prices rose in early Asian trading on November 3.
As of around 9 a.m. Singapore time, Brent crude futures were up 0.5% at US$105.25 per barrel, while US West Texas Intermediate (WTI) crude futures rose 0.5% to US$96.93 per barrel.
KCM Trade chief market analyst Waterer said the report had prompted markets to price geopolitical risk premiums back in, unsettling sentiment that had previously been easing.
