US Attacks Push Oil Prices Above $101/Barrel Amid Escalating Tensions

The United States has carried out its 13th consecutive attack against strategic Iranian targets in an effort to reduce threats to shipping vessels passing through the Strait of Hormuz.

Brent crude oil prices have surged 15% so far this week, reaching a high of $101.16 per barrel on Friday's market, compared to $88 per barrel at the previous week's close.

Despite a 60-day period for negotiating a final peace agreement between the US and Iran, recent attacks and escalations in the region suggest that a deal is nowhere near.