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The Economic Times
The Economic Times
Business

Brent crude oil price nears $100 as attacks on tankers threaten to worsen supply shock

Oil United States Goldman Sachs Iran Strait of Hormuz

Oil prices climbed to their highest level in nearly six weeks on Monday, moving closer to $100 a barrel as attacks on commercial vessels by the US and Iran increasingly threaten to disrupt crude flows through the Strait of Hormuz, Reuters reported.

Brent crude futures rose 89 cents, or 0.92%, to $97.17 a barrel by 1333 GMT after touching $97.93, their highest level since July 24. West Texas Intermediate crude gained 79 cents to $92.27.

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