SignalCommodities

Brent touched $110 as Iran escalates attacks near Hormuz and Ukraine vows to hit Russian refineries. Two supply shocks stacking on the same barrel, so the risk premium stays bid until shipping lanes c

Brent crude hitting $110 on Iran Hormuz escalation and Ukraine refinery strikes signals supply risk.

Context

What happened: U.S. crude oil prices rose sharply Friday as Iran escalated attacks in the Strait of Hormuz this week. Ukraine vowed to hit Russian refineries. Key numbers: Brent oil touched $110. Why it matters: The escalation in the Strait of Hormuz and Ukraine's pledge to strike Russian refineries add pressure to global oil supply. Coverage: 3 outlets in 24h

What changed

U.S. crude oil prices rose sharply Friday as Iran escalated attacks in the Strait of Hormuz this week. Ukraine vowed to hit Russian refineries.

Why it matters

The escalation in the Strait of Hormuz and Ukraine's pledge to strike Russian refineries add pressure to global oil supply.

Sources

cnbc