Brent crude rises above $117 amid Iran war uncertainty

Brent crude: Brent crude is the primary international oil benchmark used to price seaborne crude traded globally. In the reported event, it rose above $117 a barrel and settled at $116.72 as conflict-related risks raised concern about disruptions to Persian Gulf supply and shipping routes. West Texas Intermediate: West Texas Intermediate (WTI) is the main U.S. crude-oil benchmark, reflecting oil delivered in the United States. It climbed above $103 a barrel and settled at $103.27 as traders assessed the potential effects of the Iran conflict on regional energy flows. Supply risk: Recent attacks involving tankers and energy infrastructure have heightened uncertainty over crude shipments through the Strait of Hormuz, a critical Persian Gulf export route. Market trend: Brent and WTI have remained elevated as continued Middle East hostilities threaten to disrupt regional crude and refined-fuel supplies. Global exposure: Disruptions around the Persian Gulf can affect international oil markets because the region is a major source of seaborne crude exports.