Oil prices today: Brent crude tops $110 as Middle East tensions threaten shipments

AI Summary

Brent crude rose above $110 as attacks on vessels and infrastructure and wider Middle East tensions heightened fears of supply and shipping disruptions. WTI also gained, while U.S. officials are working with refiners amid concerns about rising fuel costs and shortages.

Oil prices have risen due to growing concerns over disruptions in Middle East supplies and threats to shipping routes. Recent attacks on vessels and infrastructure have heightened worries among traders and analysts. While Brent crude futures climbed to $110.10, WTI crude also saw an increase following previous declines. US officials are working with refiners to address rising fuel prices and shortages.