Crude oil prices rise 2% on fresh attacks by US and Iran

Brent crude rose 1.8 percent to 90.84 dollars a barrel and WTI gained 1.7 percent to 84.60 dollars after fresh US attacks on Iran and retaliatory strikes on US sites in Bahrain, Kuwait and Jordan. A tanker was struck by an unknown projectile in the Strait of Hormuz, vessel crossings dropped further, and Iran-aligned Houthis threatened a naval blockade on Saudi Arabia, raising risks to global energy supply. A 10-day ceasefire proposal via mediators offered some offset but uncertainty over the Strait of Hormuz remains elevated.