Brent Crude Surges Past $91 Following Missile Attack on Tanker Near Strait of Hormuz
admin 
Brent Crude oil prices surged past $91 per barrel following an attack on a cargo vessel by an unidentified projectile in the Strait of Hormuz early Tuesday local time, intensifying fears of regional escalation.
The United Kingdom Maritime Trade Operations (UKMTO) confirmed the incident, reporting that the outbound vessel was struck in the vital shipping strait. The impact damaged the engine room and resulted in one crew casualty. The remaining crew members are receiving assistance from the Omani Coast Guard, and no environmental damage has been reported.
The attack occurred near the Omani coast in the southern outbound corridor of the Persian Gulf. It comes amid escalating tensions between the United States and Iran over control of the strategic waterway, which is critical for global oil and liquefied natural gas (LNG) shipments. Recent statements from both nations have further dimmed prospects for Middle East stability, pushing energy prices upward.
During early Asian trading on Tuesday, Brent Crude rose 0.69% to reach $91.50 per barrel, while the U.S. benchmark, WTI Crude, climbed 0.92% to trade at $85.28 per barrel.
ING commodities strategists Warren Patterson and Ewa Manthey noted that the market remains supported by renewed conflict in Lebanon and maritime attacks in the Strait of Hormuz, both of which threaten regional supplies and complicate diplomatic efforts between the U.S. and Iran.
