Brent hits five-month high as Iran threatens Gulf oil facilities

Brent crude rose 1% to $114.72, its highest since May, on fears the US will renew strikes on Iran after Tehran threatened retaliatory attacks on Gulf oil and tech facilities. The escalation risk is driving a risk premium into oil prices, with supply disruption concerns centered on the Gulf. The market is pricing in a potential conflict expansion, though actual strikes have not yet occurred.

AI disclosure: Model-written summary of the source, not a verified fact. Check the sources. How Mosaic works