Commodities
Home›Commodities›Energy›U.S. oil rises above $90 as Brent tops $98 after Red S…
U.S. oil rises above $90 as Brent tops $98 after Red Sea attacks
The move comes after attacks on tankers in the Red Sea and renewed threat of military action involving Iran, which traders tied to potential supply risk.
CNBC Markets reports that crude prices climbed sharply after attacks on tankers in the Red Sea. U.S. oil rose above $90, while Brent moved above $98.
The outlet also linked the jump to U.S. President Donald Trump's threatened use of military force against Iranian infrastructure. Market participants appear to have priced in higher geopolitical supply risk as a result.
CNBC World carried the same development, describing how the Red Sea incident and the renewed threat related to Iran supported the bid in both benchmarks.
The article frames the rally as a response to renewed disruptions and escalation risk in a key shipping corridor, which can affect expectations for crude supply flows.
Latest closeWTI crude $87.52 ▲3.1%|Brent $94.43 ▲3.8%