As of the close on the 17th, NYMEX August light sweet crude rose $3.54 to $82.49/bbl, up 4.48%; ICE Brent September rose $3.87 to $88.10/bbl, up 4.59%.

Iran's Fars news agency says Shiraz-Dubai flights resumed after a five-month suspension.

On the 17th, Mohsen Rezaei, military adviser to Iran’s supreme leader, said the US violated the US‑Iran memorandum of understanding, rendering it effectively defunct. He accused US forces of mounting large-scale, hybrid strikes on infrastructure in southern Iran. Rezaei said Iran has already widened the scope of its response after recent US attacks and warned that continued US strikes over the coming days would prompt a shift from “deterrence and retaliation” to a “full offensive and destruction” phase, with bases and troops outside US territory becoming direct targets. He added Iran’s strikes will intensify in the coming days.