US-Iran Maritime Attacks Push Brent Back Above $100

Brent crude rose 3.4% on Wednesday to settle at $101.21 a barrel after the latest round of attacks at sea. According to Sina Finance, the U.S. military said it destroyed five Iranian crude transport ships, while Iran said it attacked multiple U.S. vessels and tankers near the Strait of Hormuz. The U.S. Central Command said on September 8 that it destroyed five Iranian crude transport ships after the Islamic Revolutionary Guard Corps used ballistic missiles twice in the previous two days against a U.S. Navy vessel. U.S. Secretary of State Marco Rubio later said Iran would pay with the loss of tankers whenever it attacked or tried to attack U.S. warships. Iranian state media said on September 9 that Iranian forces attacked eight tankers and two U.S. vessels in retaliation, and also targeted 10 other ships trying to pass through the Strait of Hormuz. The U.S. Central Command denied that any U.S. warship was hit. The British maritime trade operations office reported attacks involving multiple merchant ships in the northern Persian Gulf and the Gulf of Oman. Iraq separately confirmed that a Panama-flagged tanker was attacked by unknown assailants off the Iraqi coast, with no casualties reported.