Commodities
Brent Prices Soar Above $108 Amid Escalating Middle East Tensions
Oil prices rose further on September 11 as attacks in the Middle East sparked concerns about prolonged supply disruptions.
Brent crude futures gained 1 percent to $108.68 a barrel, while U.S. West Texas Intermediate rose 1 percent to $103.45.
The price hike comes after Iran said it attacked 10 ships near the Strait of Hormuz on September 9 following U.S. strikes on five Iranian oil tankers.
The Islamic Revolutionary Guard Corps warned that it would step up its response to further attacks, which could lead to more supply disruptions and higher prices.