Fighting between Washington and Tehran has erupted this month
The jump in oil prices pushed the 10-year Treasury yield above 4.9%
The rally in oil prices combined with a much steeper increase in fuel prices
Oil prices have gained more than 7% this week
Oil prices moved up after the US military hit targets in Iran
Iran said on Tuesday it would reciprocate if the U.S. honored its commitments
U.S. Central Command confirmed to MS NOW that the U.S. struck two rocket launchers on Iran's Larak Island
The U.S. on Monday announced the "toughest sanctions in history" on Iran
Prices have fallen more than 5% this week
Brent crude, the international benchmark, lost 2.5% to $92.06 a barrel
Crude oil prices eased significantly over the first two weeks in August
The UAE said Iran launched two ballistic missiles toward it
Faltering talks to end the Iran war left oil and gas prices poised for sizeable weekly gains
Global oil demand was set to fall further than previously expected this year
The longer talks drag on without visible progress
U.S. oil had risen as much as 3% earlier in the day
Oil prices firmed 1.2% on Tuesday
Intel was a key laggard of the session, falling 3%
The U.S. and Iran signed a memorandum of understanding on June 17 to open Hormuz
Oil futures settled more than $3 a barrel higher on Thursday
Reports about progress in efforts to end the war drove prices down 5% on Tuesday
Bessent said a deal to reopen the Strait of Hormuz could be agreed
Trump has reportedly been weighing another round of strikes on Iran
The threat to oil supplies in the region has expanded beyond Hormuz
The resumption of strikes marks the latest turn in a conflict that has whipsawed oil markets
recent decline in oil prices reflects easing concerns over an immediate escalation between the U.S. and Iran
President Donald Trump has put off a major escalation with Iran
The international waterway remains open for transit despite recent attacks
U.S. West Texas Intermediate crude futures were 3.4% lower
T tanker was hit around 70 nautical miles southwest of Al Shuqaiq