6:12 AM in London, Sep 7
Brent climbs to about $97, near a six-week high, as US-Iran tanker strikes escalate
ReportedShipping, energy & marketsLondon, United Kingdom
Brent crude rose 79 cents to $97.07 a barrel by 05:12 GMT on Monday and WTI gained 80 cents to $92.28, Reuters reported, after weekend US strikes on three Iranian tankers and Iranian attacks on ships in Hormuz. Brent was up about 9% over five days, close to its July 24 peak of $97.93.
Why it matters The weekend tanker exchange added a fresh risk premium, leaving Brent within reach of its July high and the $100 mark.
Sources: Al Jazeera, Al Jazeera Liveblog, The Vibes, FX Leaders, Al Jazeera live blog