CNBC56%
Oil prices climb after tanker struck off Saudi Arabia, Trump escalates Iran threats 86%
By Lee Ying Shan75%
7/23/2026, 12:18:49 AM
Keywords: Donald J Trump, Iran, Oil And Gas, Breaking News Markets, Markets, Donald Trump, Lco26u, Foreign Policy, United States, Lco26z, Tehran, Saudi Arabia
BS Summary: This article contains 13 faulty reasoning types, including Post Hoc (False Cause), Confirmation Bias, and Hindsight Bias, with Negativity Bias as the most egregious example at 22.6% saturation with 89 hits. Analysis detected 619 faulty-reasoning hits from 393 analyzed words, generating a BS Score of 78.4% and a BS Rank of 86% (2,953 of 20,309 articles). This article is worse (more manipulative) than 85.50% of the article peer group.
Oil prices rose on Thursday after a tanker was struck by an unknown projectile off Saudi Arabia and U.S.
President Donald Trump threatened to bomb Iranian infrastructure in response to any attacks on ships transiting the Strait of Hormuz, escalating concerns over disruptions to global crude supplies.
The strike sparked a fire onboard that the crew was fighting, although there were no reported casualties.
Brent crude futures for September delivery gained 2% to $95.99 per barrel.
U.S.
West Texas Intermediate crude futures advanced around 1.7% to $88.27 per barrel.
The attack came hours after Trump warned the U.S. would destroy an Iranian bridge or power plant each time Tehran attacks a ship in the Strait of Hormuz, signaling a further escalation in tensions following the collapse of the U.S.-Iran ceasefire.
"From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy ONE BRIDGE OR POWER PLANT," Trump said .
Iran responded by warning it would retaliate against U.S.-linked infrastructure and energy assets across the region if Washington carried out those strikes.
"If the Americans target a bridge or a power plant in Iran, Iran will, in turn, strike infrastructure and bridges in the region, including energy facilities where the United States has interests," an unnamed Iranian military source told state-run Tasnim News Agency.
Earlier on Wednesday, Secretary of State Marco Rubio said Iran was not being "serious" about reaching an agreement with Washington, while maintaining that the U.S. remained "committed to diplomacy" in the Middle East.
The recent rally in oil reflects renewed concerns over the Strait of Hormuz after the breakdown of the U.S.-Iran ceasefire, HSBC said in a note late Wednesday, warning that the outlook now hinges on whether diplomacy can restore predictable shipping flows.
"Since 7-8 July, the ceasefire has frayed as Iranian attacks on vessels transiting the strait of Hormuz prompted U.S. retaliatory strikes," said Kim Fustier, the bank's senior global oil and gas analyst.
"The core issue remains unresolved: whether passage is administered, and by whom.
In hindsight, the more traffic was rising through the US-managed Omani lane, the less this outcome suited Iran," added Fustier.
Analysis
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