World News
Crude oil reaches $105 following Middle East tanker attacks
Al Jazeera reports that benchmark crude reached $105 as shipping strikes elevated Federal Reserve interest rate hike bets.
The short version
- Benchmark Brent crude hit $105 a barrel while US crude crossed $100 for the first time since May.[Al Jazeera]
- Iran said it targeted 10 vessels near the Strait of Hormuz after US forces struck five Iranian oil tankers.[Al Jazeera]
- Traders now see a nearly 70 percent chance that the Federal Reserve will raise interest rates next week.[Al Jazeera]
Key facts
- Benchmark Brent crude hit $105 per barrel amid an increase in maritime attacks.[Al Jazeera]
- United States oil topped $100 a barrel for the first time since May.[Al Jazeera]
- Iran claimed it attacked 10 vessels near the Strait of Hormuz following US strikes on five Iranian tankers.[Al Jazeera]
- Traders priced in a near 70 percent chance of an upcoming Federal Reserve interest rate hike.[Al Jazeera]
What remains uncertain
- PVM analyst John Evans stated that the regional conflict is expected to last longer than previously anticipated.[Al Jazeera]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.