President Trump said at a rally that the United States may carry out a further military action against Iran, describing it as a “little Epic Fury”. Oil prices rose sharply on the remarks and on a separate development in the Strait of Hormuz.
Tanker incident raises stakes
The IRGC Navy said in a statement on Friday that two supertankers had struck naval mines while trying to cross what it called an unauthorised southern route through the strait.
Brent crude reached $117.27 a barrel, its highest level since May. WTI rose $4.21 to $103.74.
Market reaction
The move came after oil had been bid strongly over the past two days, as traders priced in the risk of escalation. Trump had said recently there would be no attacks before the midterm elections.
Trump also linked the possibility of action to Cuba, saying the US would deal with it on the way back from Iran.
Related: Trump says Iran is pushing oil prices before midterms · Trump rules out nuclear weapon use in Iran
Source: IRGC Navy
