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Brent crude tops $100 as attacks in the Red Sea raise supply fears
Oil prices climbed after reports of ship attacks in the Red Sea and heightened risk around Saudi Arabia and Iran.
CNBC World reports that Brent crude moved above $100 after attacks on ships in the Red Sea, with tanker incidents reported off Saudi Arabia.
The outlet linked the jump to escalating security concerns in the region, which traders may view as a threat to shipping routes and near term supply.
CNBC World also cited U.S. President Donald Trump’s threatened response toward Iranian infrastructure as an added geopolitical risk factor for oil markets.
Latest closeWTI crude $87.52 ▲3.1%|Brent $94.43 ▲3.8%
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