Brent oil touches $110 as Iran escalates Hormuz attacks, Ukraine vows to hit Russian refineries
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Brent crude futures rose 3.7% to close at $109.86 per barrel after hitting a session high of $110 on Friday amid escalating Iranian attacks in the Strait of Hormuz. U.S. West Texas Intermediate gained 3.5% to settle at $101.41. In the strait, Iran has attacked at least nine tankers and cargo ships since Sunday and sank the container ship GFS Pride, leaving three seafarers injured and two missing. Meanwhile, Saudi Arabia intercepted missiles and drones targeting the Yanbu export terminal and Riyadh, following earlier Houthi strikes that killed 12 and injured over 300.
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