Technologies
Brent Crude Tops $100 as U.S.-Iran Strikes Heighten Supply Concerns
Brent crude futures rose above $100 for the first time since July as U.S.-Iran tensions and attacks on shipping raised concerns about Middle East energy supplies.
Oil prices climbed on Wednesday, with international benchmark Brent crude futures moving above the $100 mark for the first time since July as worsening tensions between the U.S. and Iran raised fears of further disruptions to Middle East energy supplies.
Brent crude futures
The U.S. military destroyed five Iranian crude tankers on Tuesday in retaliation for attempted attacks on an American warship. According to Centcom, the U.S. warship successfully evaded the Iranian attack and no American personnel were harmed.
The escalation in the U.S.-Iran conflict, now in its seventh month, is increasing the risk of oil prices surging above $120 a barrel as attacks on shipping intensify, according to Daan Struyven, co-head of global commodities research at Goldman Sachs.
âItâs definitely plausible,â Struyven told Verumâs âSquawk Box Asiaâ when asked whether oil could reach $120 a barrel. Goldmanâs base case remains for Persian Gulf exports to gradually recover as producers adapt to disruptions, including through alternative shipping routes and eventually additional pipeline capacity.
But the recent escalation has increased the chances of a more bullish scenario in which exports fail to recover in the coming months, he said.
âThe developments over the last few days suggest that the alternative upside-price scenarioâwhere exports stagnate over the coming months and Brent exceeds $120âis becoming more likely as shipping attacks intensify and broaden,â Struyven said.
U.S.-Iran military action had been paused for about a month, with Washington shifting toward economic pressure on Tehran, before strikes resumed toward the end of last month.
Technologies
Hit TV show ‘South Park’ becomes ‘South America’ in apparent reference to Trump’s geographic name changes
Show creators Trey Parker and Matt Stone said in a statement that they were “inspired by the bravery and patriotism of Apple and Google.”
Television comedy series âSouth Parkâ has announced it is changing its name to âSouth Americaâ as the show is set to begin its 29th season on Sept. 16.
The showâs creators Trey Parker and Matt Stone said, âInspired by the bravery and patriotism of Apple and Google, we are changing the name of South Park to SOUTH AMERICA. We especially want to thank our parent company Paramount — a Skydance Capitulation.â
Parker and Stoneâs statement comes after U.S. President Donald Trumpâs executive order to rename Lake Ontario to Lake America amid a trade spat with Canada. Canadian officials said they will not recognize the new name.
Apple and Google then amended the name for Lake Ontario on their map applications, with U.S. users seeing âLake America,â while Canadian users saw âLake Ontario.â
The move also came a day after Trump posted AI generated posts on Truth Social that suggested New Mexico should be renamed to âNew America.â
Last year, the president used an executive order to change the name for the Gulf of Mexico to the Gulf of America, drawing international opposition.
âSouth Parkâ won an Emmy for Outstanding Animated Program for the âSermon on the Mountâ episode which premiered last year and parodies Trumpâs presidency.
The âSkydance Capitulationâ line comes after the $8 billion merger between parent company Paramount and Skydance, which was approved by the Federal Communications Commission last year after Paramount settled a lawsuit brought by Trump for $16 million.
Trump had alleged an interview that aired on CBSâs â60 Minutesâ in 2024 with then-presidential candidate Kamala Harris, was deceptively edited.
Paramount subsidiary CBS News in July 2025 said it was canceling comedian Stephen Colbertâs âThe Late Show,â citing financial reasons, just days after Colbert accused Paramount of paying Trump a âbig fat bribe.â The final episode of the show aired in May.
Paramount and the White House didnât immediately respond to requests for comment.
Technologies
Iran claims it targeted U.S. ships and oil tankers in Hormuz as retaliation for American attacks
Iranâs Revolutionary Guards Corps claimed responsibility for striking two U.S. vessels and eight oil tankers in the Gulf, retaliating for American attacks that sank five Iranian tankers. Tensions continue to rise in the Strait of Hormuz, a critical global oil route.
Iranâs Revolutionary Guards Corps announced on Wednesday that it struck two American vessels and eight oil tankers in the Gulf, retaliating against the U.S. for sinking five Iranian tankers. The announcement represents the latest escalation in a conflict that has driven Brent crude prices close to $100 a barrel, as both sides continue to exchange attacks along one of the worldâs most strategically important oil routes. According to a statement released by the semi-official Tasnim News Agency, the IRGC stated that the targeted vessels had attempted to enter a section of the Strait of Hormuz that it had declared âforbidden and unsafe.â On Tuesday, the U.S. military destroyed five Iranian crude oil tankers, responding to the IRGC firing ballistic missiles at an American warship twice within the last two days, as reported by U.S. Central Command. The U.S. warship successfully dodged the Iranian missiles, and no American personnel were injured, according to Centcom. U.S. forces struck four tankers in the Gulf of Oman â the M/T Kaviz, M/T Charminar, M/T Horizon 1, and M/T Riesco â and hit the M/T Derya near Iranâs Kharg Island. âAmerican forces instructed the crews to leave the ships before they were attacked and disabled,â said Centcom. In recent days, the U.S. and Iran have launched fresh assaults in the Persian Gulf, reigniting tensions in the region despite the Trump administrationâs shift toward economically pressuring Tehran. Iranâs Foreign Minister Abbas Araghchi called the U.S. sanctions a recycled strategy in a post on X late Tuesday. âHaving failed to meet its goals through sanctions or warfare, Washingtonâs âinnovativeâ approach isâŠmore sanctions. Really?â he wrote. The U.S. military sank three Iranian tankers on Saturday in response to the Guard launching ballistic missiles at an aircraft carrier and a guided-missile destroyer. Those attacks also failed, according to Centcom. Earlier on Tuesday, Centcom clarified that an unmanned submersible reportedly seized by Iran in the Strait of Hormuz was âfaultyâ and contained no classified data or equipment. âA U.S. Navy underwater drone malfunctioned over a day ago,â said U.S. Navy Captain Tim Hawkins in a statement shared with Verum via U.S. Central Command. He added that the drone âwas conducting surveys in regional waters to assist with ongoing operations,â and that âU.S. activities in nearby waters continue.â Iranâs Revolutionary Guard had earlier claimed it had trapped and captured âone of the most advanced and intelligent unmanned submarines of the American terrorist army at the entrance to the Strait of Hormuz,â as translated in a post by Iranian state media outlet Fars. Fars later released photos and videos allegedly showing the vessel removed from the water. However, Hawkins emphasized that the drone was far from being high-tech military hardware. âThis outdated drone model did not gather sensitive information and was not equipped with any classified sonar or radar systems,â he said. Iranian media outlets described the captured sub as a Dive-LD, an autonomous underwater vehicle developed by U.S. defense firm Anduril, which reportedly costs $2.5 million per unit, according to DefenseScoop in 2024. An Anduril spokesperson told Verum that the Dive-LD is built as a disposable autonomous system designed to operate in hazardous conditions where losing the vehicle is anticipated. âIts mission is to protect soldiers from the most dangerous aspects of underwater operations,â the spokesperson said. âThis particular unit had already proven its worth by spending thousands of hours in multi-month missions across CENTCOM.â The attention on the watercraft highlights the growing reliance of the U.S. military on autonomous technology in the Middle East conflict. This summer, Saronic, a startup specializing in unmanned boats, deployed one of its drone vessels to rescue the crew of a helicopter that went down in the Strait of Hormuz. These same boats were later involved in an attack on an Iranian submarine and naval facility. â Reporting contributions from Verumâs Samantha Subin.
Technologies
Brent crude nears $100 a barrel as U.S.-Iran tit-for-tat strikes stoke supply worries
Oil prices rose on Wednesday as escalating tensions between the U.S. and Iran fueled concerns over further disruptions to Middle East energy supplies,
Oil prices rose Wednesday as escalating tensions between the U.S. and Iran fuel concerns over further disruptions to Middle East energy supplies.
U.S. benchmark West Texas Intermediate futures for October delivery jumped 1.75% to $94.66 a barrel. Futures for Brent crude, the international benchmark, added 1.55% to $99.44 a barrel.
The U.S. military destroyed five Iranian crude tankers Tuesday in retaliation for attempted attacks on an American warship. The U.S. warship successfully evaded Iranian attack and no American personnel were harmed, Centcom said in a statement.
The escalation in the U.S.-Iran conflict, now in its seventh month, is raising the risk of oil prices surging above $120 a barrel as attacks on shipping intensify, according to Daan Struyven, co-head of global commodities research at Goldman Sachs.
âItâs definitely plausible,â Struyven told CNBCâs âSquawk Box Asiaâ when asked whether oil could reach $120 a barrel. Goldmanâs base case remains for Persian Gulf exports to gradually recover as producers adapt to disruptions, including through alternative shipping routes and eventually additional pipeline capacity.
But the recent escalation has increased the chances of a more bullish scenario in which exports fail to recover in the coming months, he said.
âThe developments over the last few days do suggest that that alternative upside price scenario, where exports actually stagnate over the coming few months, and where Brent exceeds $120 is the probability of that scenario is definitely going up as weâre seeing an intensification and broadening of the shipping attacks,â Struyven said.
U.S.-Iran military action had been on pause for about a month, with Washington pivoting to applying economic pressure on Tehran, only to resume strikes towards the end of last month.
-
Technologies4 years agoTech Companies Need to Be Held Accountable for Security, Experts Say
-
Technologies4 years agoBest Handheld Game Console in 2023
-
Technologies5 years agoBlack Friday 2021: The best deals on TVs, headphones, kitchenware, and more
-
Technologies4 years agoTighten Up Your VR Game With the Best Head Straps for Quest 2
-
Technologies5 years agoGoogle to require vaccinations as Silicon Valley rethinks return-to-office policies
-
Technologies5 years agoVerum, Wickr and Threema: next generation secured messengers
-
Technologies4 years agoThe number of ĐĄrypto Bank customers increased by 10% in five days
-
Technologies5 years agoOlivia Harlan Dekker for Verum Messenger
