Brent crude tops $110 as Hormuz attacks escalate

· Energy · Iran · United States

Brent crude rose above $110 a barrel for the first time since May on Friday, as attacks in and around the Strait of Hormuz escalated and prospects for near-term supply relief dwindled. Iran intensified strikes in the strait this week, and BBC Verify analysis of data from a UK maritime agency showed 12 vessels were struck in a single week, a record. An oil tanker was reported hit, according to India's ports minister, while Singapore-flagged container ships continued to transit the waterway despite earlier attacks. Traders ramped up bets on higher prices into the weekend, pushing Treasury yields higher and adding to inflation worries on Wall Street. The surge came as US crude prices rose sharply Friday.

Why it matters：A sustained oil spike above $110 raises fuel and shipping costs worldwide and makes it harder for central banks to contain inflation, tying the Middle East conflict directly to global growth prospects.

Key points

  • Brent hit $110 a barrel, its highest since May, as supply relief bets faded.
  • BBC Verify data showed 12 vessels struck in a week near Hormuz, a record.
  • Singapore-linked container ships kept transiting the strait despite attacks on two ships.

Sources (original reporting)

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