- Brent crude rose above $100/bbl, trading at $102.50, up over 2% from Wednesday's close, while WTI traded at $89.96, up 1.90%.
- A dozen Iranian attacks on tankers in the Strait of Hormuz between September 28 and October 2 cut tanker traffic to its lowest level since late July, according to Kpler.
- U.S. Gulf of Mexico field operators began shutting in production ahead of a potential hurricane, adding to supply concerns.
- ANZ analyst Daniel Hynes said producers are willing to risk vessel damage because there is no alternative route to international markets.
Quotes
“In the past, such attacks have resulted in a reduction in shipments from the Persian Gulf.”