Brent crude crosses $100 after tankers reportedly struck off Saudi Arabia

The VLCC Mobassa B (previously named Front Forth), one of the two tankers which the UAE defence ministry said was struck by Iranian cruise missiles while transiting the Strait of Hormuz, in Rotterdam, Netherlands, August 18, 2024, in this picture obtained by Reuters on July 14, 2026.Edwin van Werd | via ReutersOil prices spiked higher on Thursday following reports of attacks on tankers off the coast of Saudi Arabia and the U.S. renewed threats to escalate strikes against Iran.Brent crude futures for July delivery crossed the $100 per barrel mark for the first time since May 26. At 9:15 a.m. ET, the international benchmark was up 6.4% at $100.05 per barrel. U.S. West Texas Intermediate crude futures advanced more than 5% to $91.08 per barrel, after touching its highest level since June 11. Stock Chart IconStock chart iconBrent crude oil futuresThursday's price rise put Brent crude futures on course for a monthly gain of about 36% — the third-biggest monthly jump in the past 10 years. WTI futures were also on course for their third-largest monthly rise in a decade, on a monthly increase of about 30%. The United Kingdom Maritime Trade Operations posted on social media platform X on Th...