Oil Prices Rise to Six-Week High Amid U.S.-Iran Tensions and Attacks on Saudi Facilities
Brent crude oil futures rose 1.3% to $97.52 per barrel, reaching a six-week high as tensions between the U.S. and Iran escalated over the weekend with reciprocal attacks near the Strait of Hormuz. West Texas Intermediate also climbed to its highest level since late July at $92.68 per barrel. Reports indicate that Saudi Aramco facilities in Jizan were struck, though it remains unclear who was responsible for the attack. The U.S. military reportedly attacked three Iranian oil tankers after Iran launched ballistic missiles at two Navy warships on Saturday. The U.S. described the targeted vessels as part of a shadow network funding Iran's Revolutionary Guard and regional proxies. In response, Iran condemned the attacks as
Topics: geopolitical tensions Middle East conflict oil prices