Brent Crude Rises 1.3% to $95.91 as U.S.-Iran Fighting Intensifies

Brent crude rose 1.3% to $95.91 a barrel Wednesday as intensified fighting between the United States and Iran kept energy markets elevated. The latest move followed renewed U.S. attacks on Iranian sites and Iranian retaliation around the Gulf. The conflict has raised gasoline prices and global shipping costs while disrupting passage through the Strait of Hormuz, which normally carries about 20% of worldwide oil shipments. Other market snapshots put Brent above $95 and West Texas Intermediate above $90, reflecting continued concern over Gulf supply routes.