Oil hits $110 first time since May amid Middle East tensions.
Context
What happened: Brent touched $110 a barrel for the first time since May on Friday amid worries that escalating Middle East tensions could tighten supplies further.
Key numbers: Brent settled $3.94, or 3.7%, higher at $109.86, highest since May 19. WTI closed $3.44, or 3.5%, higher at $101.41.
Why it matters: Energy Aspects said persistent escalation risks will keep flat prices supported. Kpler said intensified Iranian attacks drove Gulf crude flows sharply lower and expected a slower, more uneven recovery in Hormuz flows without a comprehensive political deal.
Coverage: 6 outlets in 24h