Brent Crude Climbs 0.5% After Reports of US Strike on Iran's Qeshm Island

Oil prices pushed higher after reports of a US strike on Iran's Qeshm Island. Brent crude futures climbed 0.5%, putting the global benchmark at about $105 a barrel, according to Reuters.

The move was modest but immediate, the kind of twitch energy markets make when headlines out of the Gulf turn sharp. Reuters reported the strike, and traders reacted by bidding crude up rather than waiting for official confirmation.

Qeshm is Iran's largest island, sitting in the Persian Gulf near the Strait of Hormuz — the narrow waterway that handles a huge share of the world's seaborne oil. That geography is why a single headline can move a barrel's price before anyone confirms the details.

So far, the reaction is measured: a half-percent gain, not a spike. Markets appear to be pricing in a headline risk rather than a full-blown supply shock, with no word in the report of disruptions to shipping or production.

What happens next hinges on confirmation and any response from Tehran. Traders will be glued to further Reuters updates, official statements and any sign that the strait itself is affected.