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Brent Crude Climbs Above $91 After Vessel Struck in Strait of Hormuz

A cargo ship sustained engine room damage and a crew casualty after being hit by an unidentified projectile in the Strait of Hormuz on Tuesday. The incident, occurring in a critical shipping corridor near the Omani coast, immediately rattled energy markets and pushed Brent Crude prices past the $91 threshold.

Brent Crude Climbs Above $91 After Vessel Struck in Strait of Hormuz

The United Kingdom Maritime Trade Operations confirmed the strike during the vessel's outbound transit. While the Omani Coast Guard is currently assisting the remaining crew, the attack underscores the volatile security environment within the Persian Gulf. No environmental damage has been reported, but the incident has intensified fears regarding regional supply disruptions.

Brent Crude climbed 0.69% to $91.50 per barrel in early Asian trading, while WTI Crude rose to $85.28. Analysts at ING pointed to the convergence of renewed fighting in Lebanon and maritime attacks as the primary drivers of this price surge. These developments further complicate diplomatic efforts between the United States and Iran, leaving the stability of one of the world's most vital energy transit routes increasingly uncertain.

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