Brent crude prices rose by 0.8% following reported U.S. attacks on Iranian tankers. This increase reflects escalating military tensions between the United States and Iran, particularly in the Strait of Hormuz, a critical corridor for global oil trade. Brent crude was recently trading near $96 per barrel, close to six-week highs. Market activity suggests increased odds of Brent crude reaching a new all-time high, with a 1.6% probability of a significant surge by September 30. Statements from key figures such as OPEC Secretary General Mohammad Sanusi Barkindo and developments in the Middle East will be key to watch.
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