U.S.-Iran tensions, White House military options lift Brent to $101
Business
Oil prices shot up this week as tensions between the US and Iran reached new highs.
Brent crude topped $101 a barrel, and there is talk that the White House is considering military options against Iran, something the article said refuted the assumption that US President Donald Trump would avoid escalating the conflict with Tehran before voters go to the polls next month.
Storm knocked out over 510,000bpd
It is not just politics. Recent Houthi attacks on Saudi airports killed three and injured dozens, leading to Saudi-led strikes in Yemen.
Plus, a big storm in the US has knocked out over 510,000 barrels of daily oil production.
Add in higher demand from Asia and pricier shipping rates, and it is no wonder filling up your tank might cost more soon.