Brent Crude Oil Price Holds Above $100 Amid US-Iran Tensions

The Brent crude oil price remained above $100 per barrel on Thursday morning due to escalating tensions between the US and Iran in West Asia.

At 9:59 am, November Brent oil futures were trading at $101.04, down 0.17%, while October WTI crude futures were at $96.11, up 0.06%.

The tensions between the two countries are escalating after Iran said it had attacked 10 ships near the Strait of Hormuz on Wednesday.

Reports also indicate that Iran fired ballistic missiles at a US military base in Jordan.