Brent Crude Hits $100 a Barrel for First Time Since July as US Destroys Five Iranian Tankers

Brent crude oil crossed $100 a barrel on September 9 for the first time since July 24, driven by a rapid military escalation between the United States and Iran in the Persian Gulf. US Central Command said it destroyed five Iranian crude oil tankers after Iran made multiple attempts to strike a US Navy warship with ballistic missiles, with no American personnel reported harmed. The tankers named in the operation were the Kivik, Charminar, Horizon 1, and Riesco in the Gulf of Oman, and the Derya near Kharg Island in the Strait of Hormuz.

The strikes were the second US action against Iranian tankers in days, following a Saturday operation in which CENTCOM destroyed three tankers after earlier Iranian missile attacks on US naval vessels. The Treasury Department also sanctioned 27 Iranian airlines as part of the broader pressure campaign. Iran's Revolutionary Guards Corps responded by claiming it struck two American vessels and eight oil tankers in the Gulf, further stoking supply fears across a critical shipping chokepoint.

The tit-for-tat exchanges sent oil prices surging toward triple digits, with Brent reaching $100 as traders priced in the risk of a sustained disruption to Gulf flows. Analysts have warned that continued escalation near the Strait of Hormuz, through which a significant share of global oil supply passes, could drive prices substantially higher.