Crude Oil Prices Soar Again, Drone Attacks Increase Middle East Conflict


Crude oil prices rose earlier in the week after a missile attack launched by Iran-backed groups killed three US soldiers in Jordan recently.

Today, global benchmark Brent traded up 0.57% to $84.03 a barrel and US West Texas Intermediate also rose 0.6% to $78.48 a barrel.

Based on the White House statement, three US service members were killed and many were injured in an air drone attack on forces based in a forward post in northeastern Jordan near the Syrian border yesterday.

This is the first US casualty due to an enemy attack since the Israel-Hamas war on October 7.

According to the US President, Joe Biden said that while they are still collecting data on the results of attacks from radical groups operating in Syria and Iraq, the US will not remain silent and will take revenge.

The Houthi group claimed responsibility for the drone attack on the Jordan-Syria border and the attack on two other bases. This is a response to condemn Israel's actions of killing Gazans blindly.

The attack further escalated the Middle East conflict, which has seen tensions rise since Israel declared full-scale war on the Hamas group.

Since the beginning of the war, more than 26,000 victims have been killed in the Gaza Strip.

Meanwhile, a petroleum tanker operated by Trafigura caught fire after being hit by a missile in the Gulf of Aden belonging to the Yemen-based Houthis.