Brent Near $80 as US-Iran Strikes Fuel Oil Rally
Brent crude jumped 4.38% to $79.50 a barrel and WTI rose 4.30% to $74.20 on July 13, extending a 5.5% rally from the prior week as U.S. and Iran military strikes stoked supply disruption fears. Analysts are now flagging $100 oil as a scenario worth pricing in if the Strait of Hormuz is threatened.