Brent tops $100 as Iran war escalation hits Hormuz oil flows

Brent crude closed above $100 for the first time since July, reaching $101.21, with U.S. crude at $96.05, as tanker targeting intensifies and Strait of Hormuz flows decline. The escalation in the Iran war is directly threatening a key chokepoint, raising supply risk premiums. The sustainability of these levels depends on further disruption to actual tanker transits.