Ice Brent crude futures slipped in early Asian trading but remained above $93/bl after US president Donald Trump warned of economic warfare against Iran.
The Ice front-month October Brent contract was at $93.54/bl at 04:00 GMT, down by 24¢/bl from its settlement on 20 August when it ended $2.16/bl higher.
The Nymex front-month October crude contract was at $86.48/bl, lower by 35¢/bl from its settlement on 20 August when it ended $2.44/bl higher.
Trump says he is preparing for "Economic Warfare" against Iran and countries that provide it financial assistance, as he looks for a way out of a stalemate in a war he started nearly six months ago.
Any countries that allow their banks, businesses, airports or government entities to provide "any type of lifeline" to Iran will face "TREMENDOUS Economic Consequences", Trump said in a social media post on 19 August. The US for more than a month has imposed a naval blockade against Iran, but overland trade routes and the Caspian sea have provided Tehran alternatives to crossing the strait of Hormuz.
Iran has dismissed the latest threats. Trump's plan to impose an "ECONOMIC D-DAY" against Iran is nothing more than an attempt at "diversion from America's own crisis" of hitting a national debt of $40 trillion and higher interest costs, Iran foreign minister Seyed Abbas Araghchi said in a post on social media.
Vessel traffic through the strait of Hormuz over the last 24 hours totalled 16 vessels, mostly transiting through the northern, Iranian-controlled transit lane, split between 10 inbound transits and six outbound transits, data from maritime security firm Windward show.
Houthi military spokesman Yahya Saree said on his Telegram channel that one drone targeted what he described as a "sensitive" site at Najran airport, while a second targeted "Aramco Najran". Saree said both operations achieved their objectives, but provided no evidence of damage. Saudi authorities have not confirmed the alleged attacks.
Ice Brent crude futures slipped in early Asian trading but remained above $93/bl after US president Donald Trump warned of economic warfare against Iran.
The Ice front-month October Brent contract was at $93.54/bl at 04:00 GMT, down by 24¢/bl from its settlement on 20 August when it ended $2.16/bl higher.
The Nymex front-month October crude contract was at $86.48/bl, lower by 35¢/bl from its settlement on 20 August when it ended $2.44/bl higher.
Trump says he is preparing for "Economic Warfare" against Iran and countries that provide it financial assistance, as he looks for a way out of a stalemate in a war he started nearly six months ago.
Any countries that allow their banks, businesses, airports or government entities to provide "any type of lifeline" to Iran will face "TREMENDOUS Economic Consequences", Trump said in a social media post on 19 August. The US for more than a month has imposed a naval blockade against Iran, but overland trade routes and the Caspian sea have provided Tehran alternatives to crossing the strait of Hormuz.
Iran has dismissed the latest threats. Trump's plan to impose an "ECONOMIC D-DAY" against Iran is nothing more than an attempt at "diversion from America's own crisis" of hitting a national debt of $40 trillion and higher interest costs, Iran foreign minister Seyed Abbas Araghchi said in a post on social media.
Vessel traffic through the strait of Hormuz over the last 24 hours totalled 16 vessels, mostly transiting through the northern, Iranian-controlled transit lane, split between 10 inbound transits and six outbound transits, data from maritime security firm Windward show.
US officials continue to claim a high number of tankers are exiting the strait of Hormuz through US-assisted transits, despite vessel tracking and satellite information pointing to much lower traffic through the strait.
Elsewhere, Yemen's Iran-backed Houthi movement claimed on 20 August that it had carried out two drone attacks against targets in Saudi Arabia's southern Najran region, including a Saudi Aramco facility.
Houthi military spokesman Yahya Saree said on his Telegram channel that one drone targeted what he described as a "sensitive" site at Najran airport, while a second targeted "Aramco Najran". Saree said both operations achieved their objectives, but provided no evidence of damage. Saudi authorities have not confirmed the alleged attacks.
By Rhalain Reyes