Economy / Markets
Brent pushes back toward $100 as US-Iran tanker strikes and a Houthi attack on Jazan reflate supply risk
Brent crude pushed back to the $99 handle in early Asian trading on September 9, with WTI near $94.60 and an intraday Brent high of $99.67, after the US struck several Iranian tankers near Kharg Island and Iran retaliated with ballistic missiles toward Jordan. Iran-backed Houthi militants hit the 400,000-barrel-a-day Jazan refinery, and Iran declared a new shipping corridor with Oman requiring coordination with Tehran around the Strait of Hormuz. Chinese refiners drew on African, Canadian and Latin American barrels as Gulf loads were disrupted.