Brent Holds Above $100 as Hormuz Tanker Traffic Hits Two-Month Low

AI Summary

Brent crude traded above $100 a barrel as tanker traffic through the Strait of Hormuz fell to a two-month low amid attacks on tankers. Reports of productive U.S.-Iran talks did not ease concerns supporting oil prices.

Crude oil prices were on course to book a weekly gain earlier today amid a flurry of tanker attacks in the Strait of Hormuz—and outside it, too. Reports citing President Trump as saying productive talks were being held with Iran failed to allay concerns driving the benchmarks higher. At the time of writing, Brent crude was trading at $102.83 per barrel, with West Texas Intermediate at $90.33 per barrel, both slightly down from opening but higher compared to their opening prices this week. Earlier this week, analysts from Kpler said that the…