Brent Bounces Back to $100
Brent crude oil futures rebounded to around $100 per barrel on Wednesday after renewed attacks on shipping near Iran. Maritime authorities said a Liberia-flagged container vessel was fired on by a gunboat linked to Iran’s Islamic Revolutionary Guard Corps. In a separate incident, another two outbound cargo ships were also targeted. The attacks mark the latest escalation in the region as tensions over the waterway remain high. Earlier, Iran indicated it had received signals that the US may be open to ending its blockade, potentially reopening talks, while President Donald Trump extended a ceasefire but warned restrictions would remain until negotiations conclude. Iran has said it will not reopen the strait while US naval interceptions continue. The ongoing disruption is contributing to severe supply concerns, with estimates of demand destruction nearing 4 to 5 million barrels per day, or about 5 percent of global supply, with Asia most affected.