Volatility: oil moderates gains after exceeding US$ 96 after new US attacks on Iran
The price of oil experienced high volatility on Wednesday amid rising tensions in the Middle East following new U.S. attacks on Iran and retaliatory actions by Tehran against regional allies of Washington. The November Brent crude futures, which are relevant to Chile, fell 0.51% to $94.19 per barrel after briefly exceeding $96 early in the morning, according to Tradingview. Meanwhile, the U.S.-referenced WTI crude dropped 0.71% to $89.62 per barrel, though it had surpassed $92 earlier in the day. The U.S. Central Command stated that the attacks were in response to recent attempts by Iran’s Islamic Revolutionary Guard Corps to attack commercial ships in the Strait of Hormuz and U.S. military personnel. On Monday, a tanker was struck by three unidentified projectiles while passing through Hormuz, according to reports from the UK Maritime Trade Operations Center. President Donald Trump denied that the offensive aimed to restart negotiations with Tehran, stating he prefers the current position with nearly complete control over the Strait of Hormuz and Iran’s collapsing economy. In response to the latest U.S. attacks, Iran reportedly launched drone and missile strikes against Kuwait, Jö
Halfway through the year since the initial attacks on Iran, the numbers remain deeply troubling. The conflict in the Strait of Hormuz has become one of the key indicators of the war between the United States and Iran. According to reports, more than 3,600 people have been killed since the start of the attack, with economic damage measured in hundreds of billions of dollars. While oil prices have risen significantly, they have yet to reach the worst-case projections. The six months of aerial and missile strikes, maritime blockades, and economic sanctions have left visible consequences reflected in statistical data. Iranian officials state that over 3,500 of their citizens have been killed, with more than 27,000 injured. They cite the attack on a school in the southern city of Minab on the first day of the war as the worst incident, resulting in the deaths of 156 people, including 120 children. On the American side, 18 soldiers were killed, and 757 were wounded. Israeli forces, which include clashes with Hezbollah, reported 40 military casualties and 31 civilians killed, with over 7,800 injured. According to the University of Brown, Americans have paid an additional $87 billion in higher fuel costs since the beginning of the war, equivalent to approximately $660 per household. The economic impact on Iran is projected to result in a contraction of its economy by 5.4 percent this year if the war continues. This is the largest decline in the country’s history in the past 38 years. Inflation is expected to reach 87 percent annually. Economic losses for Iran are estimated to be at least $150 billion. Iranian authorities claim that the war has directly caused job losses for around a million people. U.S. Defense Secretary Pete Hegseth stated in early August that the cost of the war for the United States has reached $37.5 billion. Some other estimates suggest a total three times higher figure. Political fallout is evident in recent surveys by Reuters and the Ipsos agency, where former President Donald Trump holds his lowest approval rating ever, at 33 percent. This is largely attributed to public dissatisfaction with the war in Iran and its economic repercussions. Gulf states have also been affected, with Qatar's GDP projected to decrease by nearly 8.6 percent this year. The war has severely disrupted the passage of oil tankers through the Strait of Hormuz, which previously accounted for a fifth of global oil trade. Before the war, up to 130 ships passed through daily, while currently, only about ten to fifteen pass each day. Oil prices have surged from $72 per barrel before the war to around $89, peaking at $100 during the conflict. However, the most dire predictions of $200 per barrel have not materialized. The International Energy Agency estimates that global strategic oil reserves have decreased by about five percent since the start of the war. Larger declines have been recorded in the U.S., as the release of reserves prevented excessive price increases. These reserves are now at their lowest level since 1982. Timeline of the War The conflict began on February 28 with a forceful bombing campaign against Iran by the United States and Israel, including the killing of Iran’s supreme religious leader, Ayatollah Ali Khamenei, and several other high-ranking figures in Tehran. Iran responded with attacks on Israel, on Gulf countries hosting U.S. troops, on bases where U.S. troops are stationed, and threatened vessels passing through the Strait of Hormuz. On April 8, a two-day ceasefire agreement was reached, including in Lebanon. It served as a basis for further negotiations, but these quickly became complicated. Peace in Lebanon did not last, and Iran announced continued blockades of the Strait of Hormuz, while the U.S. imposed a maritime blockade on Iran. Subsequent attacks were less intense, along with efforts for diplomatic resolution. On June 19, the U.S. and Iran signed a memorandum of understanding to end the war and initiate talks on a final agreement. Nothing came of it, and on July 8, U.S. President Trump declared the memorandum obsolete. Israel continued operations in Lebanon, while Iran maintained the blockade of the Strait of Hormuz, which has persisted.
US military forces conducted airstrikes targeting Iran, marking a renewed escalation in tensions between the two nations. The attacks reportedly occurred in southern Iran, where a wedding was taking place, resulting in casualties and injuries. In response, Iran's Revolutionary Guard claimed to have launched retaliatory operations targeting US military installations and interests in the region. The situation has raised concerns about the potential for further conflict, particularly around the strategically important Strait of Hormuz, which remains a focal point of contention. Both sides have exchanged threats, with US President Donald Trump vowing a stronger response if Iran retaliates.
Bias read (Center): The article presents a balanced account of the escalating tensions between the US and Iran, citing both sides' actions and statements without overtly favoring one over the other. It includes quotes from both US officials and Iranian sources, providing a comprehensive overview of the situation.
Why factuality (85): The article confirms the US strikes on Iran and the Iranian retaliation, citing US officials and Iranian state media. It provides context about the broader conflict and the strategic significance of the Strait of Hormuz, which aligns with other reports.
Why objectivity (80): The article maintains a neutral tone, presenting the actions of both sides without evident bias. It reports the statements of both US and Iranian officials without injecting personal opinion.
La TerceraIndependent🔒CenterFactual 75Objective 709/2/2026
The price of oil experienced high volatility on Wednesday amid rising tensions in the Middle East following new U.S. attacks on Iran and retaliatory actions by Tehran against regional allies of Washington. The November Brent crude futures, which are relevant to Chile, fell 0.51% to $94.19 per barrel after briefly exceeding $96 early in the morning, according to Tradingview. Meanwhile, the U.S.-referenced WTI crude dropped 0.71% to $89.62 per barrel, though it had surpassed $92 earlier in the day. The U.S. Central Command stated that the attacks were in response to recent attempts by Iran’s Islamic Revolutionary Guard Corps to attack commercial ships in the Strait of Hormuz and U.S. military personnel. On Monday, a tanker was struck by three unidentified projectiles while passing through Hormuz, according to reports from the UK Maritime Trade Operations Center. President Donald Trump denied that the offensive aimed to restart negotiations with Tehran, stating he prefers the current position with nearly complete control over the Strait of Hormuz and Iran’s collapsing economy. In response to the latest U.S. attacks, Iran reportedly launched drone and missile strikes against Kuwait, Jö
Bias read (Center): The article provides a balanced overview of the situation, citing multiple perspectives including U.S. military statements, Iranian actions, and analyses from financial institutions like Julius Baer. It does not exhibit clear bias toward any side but rather presents the geopolitical tensions and its
Why factuality (75): The article discusses the impact of the conflict on oil prices and includes some details about the attacks, but it focuses more on economic implications rather than the military actions themselves. It references various sources but lacks depth on the specific events.
Why objectivity (70): The article has a more financial focus, which might lead to a less objective treatment of the military events. It presents the economic consequences without much emphasis on the political or military aspects.
The ongoing US-Iran conflict has reached its six-month anniversary, with heightened tensions in the Strait of Hormuz. The Islamic Revolutionary Guard Corps (IRGC) asserts that it now holds control over the strategic waterway, while the United States insists the strait remains open due to an active naval blockade enforced by the US military. This situation highlights the continued standoff between the two nations, which has raised concerns about regional stability and potential escalation. Both sides are making conflicting claims regarding their influence in the area, adding to the complexity of the geopolitical situation.
Bias read (Center): The article presents both the Iranian and American perspectives without overtly favoring one side. It reports the claims made by the IRGC and the US stance without using biased language or selectively emphasizing one viewpoint over the other. The framing appears balanced, focusing on the reported st
Why factuality (75): The article reports on the ongoing US-Iran conflict and mentions the IRGC's claim over the Strait of Hormuz, aligning with the cross-source consensus that tensions remain high. However, the phrasing 'decisive control' and 'active US naval blockade' may be subjective interpretations rather than verif
Why objectivity (65): The article uses emotionally charged terms like 'unjust' to describe US sanctions and frames the situation as a conflict between Iran and the US, showing a clear bias toward Iran's position. This affects objectivity by presenting one side's perspective more prominently.
Indian stock markets experienced a sharp decline on Wednesday due to heightened tensions between the United States and Iran following new U.S. strikes on Iranian military targets. This led to Iranian retaliation and raised concerns about potential disruptions to global oil supply routes, particularly the Strait of Hormuz. As a result, oil prices rose, increasing worries about inflation and prompting fears of potential rate hikes by the U.S. Federal Reserve. These factors combined to create uncertainty in financial markets, leading to a sell-off in Indian equities.
Bias read (Center): The article provides a balanced overview of the geopolitical situation between the U.S. and Iran, focusing on the economic implications rather than taking a stance on either side. It reports on the impact of the conflict on global markets and Indian stocks without showing clear bias toward any party
Why factuality (70): The article provides some details about the US strikes and Iranian retaliation but includes conflicting information about casualties and locations. It also mentions the impact on oil prices, which is consistent with other reports, but the overall factual clarity is lower.
Why objectivity (65): The tone is more sensational, with dramatic descriptions of the attacks and their consequences. It emphasizes the human toll and the potential for escalation, which could be seen as emotionally charged.
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