Brent crude tops $99, nears $100 after US strikes Iranian tankers
Brent crude rose above $99 a barrel to a near seven-week high, edging toward $100 after the US struck several Iranian tankers near Kharg Island. The move comes amid broader tensions and supply-disruption concerns.
Brent crude rose above $99 a barrel on Wednesday, reaching a near seven-week high and moving closer to the $100 level after US strikes on several Iranian tankers near Kharg Island, a major crude export hub. The attacks lifted geopolitical tensions and raised worries about further disruptions to global oil supplies. A US official said the strikes followed an attempted missile attack on a US warship. " Iran-backed Houthi militants also hit energy infrastructure in southern Saudi Arabia, including the 400,000-barrel-a-day Jazan refinery.
Stronger Chinese oil demand is also supporting prices for African, Canadian and Latin American crude as disruptions in the Strait of Hormuz push refiners to seek alternative supplies farther afield.