🛢🇺🇸🇮🇷 Oil nears $100 a barrel after US, Iran tanker attacks, — Reuters
Oil prices continued to rise due to a new escalation between the US and Iran and the risk of prolonged supply disruptions through the Strait of Hormuz.
Brent rose to $97.07 a barrel, and US WTI to $92.28. In the past week alone, Brent has risen by 7.8%, WTI by almost 10%.
On Saturday, US forces attacked three Iranian oil tankers, one of which was near Kharq Island, a key center for Iranian oil exports. In response, the Islamic Revolutionary Guard Corps said it had attacked three tankers in the Strait of Hormuz and three other US vessels.
Traffic through the strait has plummeted amid the strikes, with an average of just 10 cargo ships a day passing through over the past 10 days, the lowest since May.
About a fifth of the world's oil passed through the Strait of Hormuz before the escalation. Iran has also said it will declare a restricted zone outside the strait in the coming days.
8
2September 7, 2026 213 2
