Economy / Markets
Brent retreats from a five-month high as Iran headlines whipsaw crude
Brent fell about 1% to $108.44 by late morning in New York after touching $111.99, its highest in five months, as traders weighed Houthi claims of attacks on Saudi energy and airport sites against a meeting between Iran's president and Pakistan's army chief, a US-Iran mediator. November WTI, which expired on Tuesday, slipped 0.88% to $102.75 and the December contract traded near $97.57. ING says a sizeable risk premium remains.