US-Iran Tensions Push Brent Crude to $109 as Global Supplies Come Under Threat

Brent crude is on track for its biggest weekly gain since mid-July, surging towards US$109 a barrel as tensions between the United States and Iran escalate. The oil price rally comes amid fears of prolonged disruption to global energy supplies.

The intensifying conflict has seen the US targeting Iranian oil tankers while Iran has launched missiles at US warships and tankers in the Persian Gulf, as well as American assets in neighboring countries.

US officials have reportedly warned President Donald Trump that the conflict could continue through his term, which ends in January 2029. Tehran claims it has rebuilt its missile capabilities and may intensify attacks if Washington escalates its strikes.