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The Independent UK
The Independent UK
National
Bryony Gooch

Oil surges to $100 a barrel as Strait of Hormuz tensions continue

Oil Strait of Hormuz
  • Brent Crude oil prices have surpassed $100 a barrel for the first time since July following escalating conflict in the Middle East.
  • The price surge follows attacks by Iranian-backed Houthi forces on Saudi energy infrastructure, including the Jazan refinery.
  • The US military stated it destroyed five Iranian crude tankers after an attempted ballistic missile strike on a US Navy warship.
  • Donald Trump claimed on Truth Social that oil prices would drop precipitously once the conflict with Iran is won.
  • European stock markets slipped as rising energy costs fuelled inflation concerns ahead of key central bank rate decisions.

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The Independent UK
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