Brent crude rose 63 cents, or 0.6%, to $106.32 a barrel, while US West Texas Intermediate gained 66 cents to $94.80 in early Wednesday trading. Prices climbed after a container ship and a tanker were hit by unknown projectiles in the Strait of Hormuz. Iranian officials told Reuters they had begun using different tactics against vessels they considered to be violating Iran’s restrictions, without explaining the methods. The attacks heightened worries about regional oil supplies and shipping security.
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