US-Iran Tensions Drive Brent Crude to Four-Year High

The price of Brent crude oil has reached a four-year high, nearing $100 per barrel, due to escalating tensions between the US and Iran in the Middle East.

The Brent futures on London's ICE Futures exchange stood at $99.02 as of September 9, up from $97.92 the previous day.

The increase is attributed to the ongoing confrontation between the two countries, with the Islamic Revolutionary Guard Corps announcing missile strikes against US military personnel in Jordan and US Navy destroyers.

In response, the US Central Command destroyed five Iranian oil tankers in the Persian Gulf and the Gulf of Oman, while Houthi forces in Yemen attacked Saudi Arabian oil production facilities.