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NBC News

Oil settles above $101 as Brent hits highest close since May 22

AI Market Summary
Oil closed above $100 as U.S.-Iran escalation and attacks on Saudi facilities heightened supply disruption risk across key routes including Hormuz and the Red Sea. Brent settled at $101.21 (+3.3%) and WTI at $96.05 (+3.2%), the highest closes since May 22, reinforcing a geopolitical risk premium. Near-term market focus shifts to physical availability, shipping security, and knock-on inflation sensitivity.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT+0.88%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▲ Bullish
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International oil prices pushed through $100, with Brent crude closing up 3.3% at $101.21 a barrel and WTI up 3.2% at $96.05. Both contracts posted their highest closing levels since May 22. Fresh developments in the U.S.-Iran conflict raised concerns about supply risks in global energy markets.
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