Iran US Tanker Attacks Spark Oil Price Surge

Tensions escalated sharply in the Strait of Hormuz as Iran reported attacking 10 ships and the United States announced the destruction of five Iranian oil tankers, marking the most intense exchange of maritime strikes in a six-month conflict. The confrontations sent benchmark Brent crude futures soaring above $100 a barrel for the first time since July, driven by concerns over disruptions to global oil supplies. Iran's Islamic Revolutionary Guard Corps claimed responsibility for the attacks on Wednesday, stating they were retaliation for the U.S. sinking five of its oil tankers. The U.S. military's Central Command asserted that its forces destroyed the tankers, which it described as part of a network funding Iran's military and its regional allies. The U.S. also stated that Iranian attacks on a U.S. Navy warship over the preceding two days had failed, with no American vessels hit and no personnel harmed. Iran also claimed to have fired ballistic missiles at a U.S. military base in Jordan. Jordanian authorities reported intercepting 18 of the 20 missiles, with two landing in unpopulated areas, while a U.S. official deemed the strike ineffective.