Crude Nears $110 as Strait of Hormuz Tankers Attacked

Crude touched almost $110 a barrel on Thursday, the highest print since July, after the IRGC claimed it damaged eight oil tankers and two U.S. Navy destroyers in the Strait of Hormuz. The strike was billed as retaliation for a U.S. military operation that destroyed five IRGC-linked tankers in the Gulf of Oman a day earlier.

CENTCOM has pushed back on the IRGC's damage claims, injecting uncertainty into headline risk pricing. For commodities traders, the corridor remains the critical chokepoint: any verified disruption to tanker flows through Hormuz tightens physical supply expectations immediately.

With diplomatic channels showing no signs of progress, volatility in energy commodities is likely to stay elevated into next week's trading sessions.