Brent Crude Touches $110 as Iran Attacks at Least Nine Ships Near Hormuz
Photo: TokenPost
Brent crude touched $110 a barrel Friday, its highest level since May, as attacks on shipping near the Strait of Hormuz intensified and U.S. crude posted a weekly gain above 10%. The oil market move puts the latest supply concerns in focus for U.S. markets readers. Brent futures settled at $109.86 a barrel on Oct. 16, up 3.7%. West Texas Intermediate (WTI), the U.S. benchmark, rose 3.5% to $101.41. For the week, WTI gained more than 10%, while Brent advanced nearly 5%. At least nine oil tankers and cargo ships were attacked around the strait since Oct. 11.
Source: TokenPost
