Oil rises and bitcoin falls after U.S. strikes Iranian crude carriers

Oil prices rose 1% after U.S. forces struck three Iranian oil tankers. Bitcoin was nursing losses at $79,567.67. On Saturday, U.S. Central Command confirmed strikes on M/T Downy, M/T Stark 1, and M/T Kylo. The strikes occurred near Kharg Island, Jask, and in the Gulf of Oman, respectively. Admiral Brad Cooper said, "If you shoot at two of our ships, we will impose an even higher economic cost by taking out three of yours." Centcom reported that U.S. forces had redirected 92 merchant ships since operations resumed on July 14. U.S. forces had disabled three ships. U.S. forces had boarded two ships. Oil prices gained over 6% in the first seven days of September. WTI traded at $92.72 per barrel. Prices were recovering from an early July low of around $70. Higher oil prices can add to inflation worldwide. That pressure can make it harder for central banks, including the Federal Reserve, to cut borrowing costs. Stronger-than-expected U.S. job growth could also constrain interest rate cuts.