Oil prices rise after reports of container ships in Hormuz being hit by gunfire

Brent oil jumped back above US$100 a barrel after reports of gunfire attacks on at least three container ships in the Strait of Hormuz. The incident raises immediate geopolitical and shipping-risk concerns in a critical energy transit corridor, supporting higher crude prices and a broader risk-off tone across markets.

Analysis

Brent oil jumped back above US$100 a barrel after reports of gunfire attacks on at least three container ships in the Strait of Hormuz. The incident raises immediate geopolitical and shipping-risk concerns in a critical energy transit corridor, supporting higher crude prices and a broader risk-off tone across markets.