Brent Tops $100 as Iran Escalates Hormuz Tanker Attacks, Gulf Shut-ins Loom

Brent crude rose above $100/bbl as Iranian attacks on tankers in the Strait of Hormuz intensify, compounding supply risks from Gulf of Mexico shut-ins ahead of a potential hurricane. The IEA's earlier bearish update is being overshadowed by these supply threats. The escalation in Hormuz, a critical chokepoint, raises the risk of sustained price spikes and potential supply disruptions.