Brent crude approaches $100 amid Hormuz attacks and stalled US-Iran talks, despite a large US crude inventory build
Brent crude is set for a 5% weekly gain, with prices nearing $100 per barrel, as Iran escalates strikes on ships in the Strait of Hormuz and US-Iran settlement hopes fade. Although a 17-million-barrel build in US crude inventories partially offset the bullish sentiment, continued naval attacks could push ICE Brent from its current $88 closer to the $100 threshold.
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