Brent tops $101 as US-Iran tensions escalate
Brent crude rose above $101.5 a barrel on Wednesday for the first time since May. The move was linked to escalating US-Iran tensions, including reports of attempted attacks on US Navy ships and US missile activity near Iran’s oil export facilities.
5 a barrel on Wednesday for the first time since May, as US-Iran tensions intensified. US officials said Iran tried to attack Navy ships on Monday after targeting an aircraft carrier with ballistic missiles over the weekend, in a wave of attacks that had not been disclosed previously. Iranian state media said a US missile hit a small oil tanker four miles from Kharg Island on Tuesday. The conflict widened this week after Iran-backed Houthi militants struck several energy facilities in Saudi Arabia, prompting a temporary halt to some operations.
The US military struck three Iranian oil tankers on Saturday in response to Iranian ballistic missile attacks on two Navy warships. 3 million barrels last week. Ukrainian drones also hit infrastructure in Novorossiysk, Russia’s main oil terminal in the Black Sea, on Wednesday.