Oil exceeds $106 after Hormuz ship attacks
Oil prices slightly increased following attacks on ships in the Strait of Hormuz using unidentified projectiles, which targeted oil tankers and container ships, according to media reports. Iranian officials stated that Tehran is employing new offensive tactics to target vessels in the strait, aiming to keep oil prices high and exert pressure on markets, especially amid regional tensions and their impact on crude supplies and shipping movements. Additionally, the price of Brent rose to $106.03 per barrel, and West Texas Intermediate increased to $94.42, with a noticeable rise in prices following the recent attacks. This occurred concurrently with Houthi attacks on Saudi installations, further fueling fears of supply disruptions in the region.
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