The international oil benchmark Brent crude touched $99 per barrel Tuesday after tensions among the U.S., its allies and Iran flared up again.
\n\nLate Tuesday, oil spiked for the second time in 24 hours after Iranian state media reported explosions in the area of Kharg Island.
\n\nThe U.S. struck multiple Iranian oil tankers that officials say are linked to the Islamic Revolutionary Guard Corps, a U.S. official told NBC News. The strikes were a response to attempted attacks by Iran on at least one U.S. ship in the region, the official added.
\n\nTuesday’s initial oil price spike had been triggered by news of attacks on Saudi Arabian energy infrastructure by what the kingdom’s state-run media called “terrorist” Houthis. The attacks paused operations, and 73 civilians were reportedly injured.
\n\nBy 4 p.m. ET, Brent oil had hit $99, while U.S. West Texas Intermediate crude oil was up more than 2.7%, to over $94 per barrel. Wholesale gas prices also rose almost 2%.
\n\nThe Saudis condemned Houthis’ attacks on commercial vessels in the Red Sea, which is west of Saudi Arabia, and their “threats to freedom of international maritime navigation.” Saudi Arabia is the world’s largest oil exporter.
\n\nAfter Iran launched ballistic…
Original source: https://www.nbcnews.com/