Strait of Hormuz: Iran’s attacks on shipping worsen economic concerns

The price of a barrel of Brent crude oil, the international standard, topped $100 a barrel early Thursday, just days after it spiked near $120. Oil prices shot more than 9% higher as supply concerns worsened with Iranian attacks on commercial shipping around the Strait of Hormuz. The latest attacks marked an escalation in Iran’s campaign aimed at generating enough global economic pain to pressure the United States and Israel to end the war that started 12 days ago.