Oil Prices Today Jump 5% as Iran Threatens Gulf Energy Sites, Brent Nears $110
Brent crude jumped 5% to $108.56 a barrel after Iran threatened energy sites in Saudi Arabia, the UAE, and Qatar. QatarEnergy reported "extensive damage" at Ras Laffan from missile attacks. U.S. crude inventories rose by 6.2 million barrels, but gasoline and distillate stocks fell. The U.S. issued a 60-day Jones Act waiver and allowed some oil deals with Venezuela.