Oil rally continues after cargo vessel attacked in Strait of Hormuz
Oil prices rose after a cargo vessel was attacked in the Strait of Hormuz, causing engine damage and crew casualties. Brent crude rose 0.5% to $91.34, while WTI gained ~1%. The incident follows Iranian threats against passage through the strait. Analysts at Eurasia Group predict only partial recovery of traffic due to ongoing U.S.-Iran tensions, with no peace deal expected before year-end.
