Brent Crude Gains as US-Iran Tensions Escalate Again
Oil prices rose on September 6 as tensions between the US and Iran escalated again, sparking concerns about potential disruptions to crude supplies.
The Brent crude price gained 0.6% in Asian trading, according to Bloomberg, after Iran said it had attacked three tankers using unauthorized routes through the Strait of Hormuz, along with several US-linked vessels, in retaliation for what it described as a US strike on an Iranian tanker.
Mohsen Rezaei, one of Iran's top security officials, announced that a new restricted zone outside the strait would be declared within days.
Markets are growing more wary that higher energy prices could add to inflation pressures again, with bets on a Federal Reserve rate increase this month rising after stronger-than-expected US jobs data last week.