Brent nears $100 as US and Iran trade tanker strikes

CENTCOM confirms three Iranian crude carriers hit near Kharg Island and the Gulf of Oman this week, two permanently disabled, one destroyed outright, as part of what US officials call a campaign against a tanker network funding the IRGC, according to the Washington Post. Iran hit back with ballistic missiles at two US Navy warships and says it targeted three more tankers in the Strait of Hormuz. Traffic through the strait has dropped to its lowest since May, and roughly 20 Iranian tankers now sit anchored off Kharg, fully laden and going nowhere under a US naval blockade, as Reuters detailed. Brent settled near $98 on Monday, its highest since July, with Murban crude jumping nearly 4% in a single session. Iran is now threatening to declare a restricted zone in the Gulf within days.