U.S. completes Iran strikes after Apache helicopter attack
Drivers pass by ADNOC Gas, a subsidiary of the Abu Dhabi National Oil Company facility, in Abu Dhabi on March 3, 2026.
Ryan Lim | AFP | Getty Images
Oil prices rose on Wednesday after the United States launched a military strike on Iran, raising concerns that renewed hostilities could threaten shipping through the Strait of Hormuz.
U.S. crude oil futures for July delivery rose 0.74% to $88.89 a barrel, paring gains after rising above 1%. Brent futures, the international benchmark for August delivery, rose 0.82% to $92.20 a barrel.
US military announced that the attacks were completed against Iranian military targets near the Strait of Hormuz.
US forces launched an attack on Iran on Tuesday night, following the downing of a US Army Apache helicopter a day earlier, according to US Central Command. Centcom described the operation as a defensive and measured response to what it called Iranian aggression.
President Donald Trump said early Tuesday that Iran shot down a US helicopter patrolling near the Strait of Hormuz and vowed that the US would retaliate.
“The two pilots involved in the attack are safe and uninjured,” Trump wrote on Truth Social. “Yet the United States must necessarily respond to this attack.”
The halt of 11.8 million barrels per day of production by six Gulf producers has led to the most serious oil supply disruption in modern history, Rystad Energy said. The consultancy estimates cumulative production losses reaching 1 billion barrels and warns that each additional month of conflict could wipe out a further 350 million barrels of production.
