Gulf flare-up pushes Brent closer to $100-mark

Brent crude is nearing $100 per barrel as Gulf conflict escalation threatens oil shipping and supplies. Iran's IRGC said it attacked two American vessels and eight oil tankers in retaliation for U.S. actions targeting Iranian crude supplies earlier this week. The developments raise the risk of a significant disruption to regional energy flows, supporting oil prices while increasing broader market risk.