Oil prices rise after attacks on tankers in Strait of Hormuz

Oil prices climbed on Tuesday after attacks on tankers near the Strait of Hormuz raised concerns about supply disruptions in one of the world’s most important shipping routes. Brent crude and U.S. West Texas Intermediate both moved higher after reports that vessels were hit near the waterway, which handles a significant share of global oil traffic. Qatar said Iran attacked a Qatari liquefied natural gas tanker, while UK maritime officials also reported separate incidents involving tankers in the area. Prices extended gains after the U.S. revoked Iran’s authorization to sell oil. The developments added to uncertainty around the interim peace agreement between Washington and Tehran and highlighted ongoing risks to energy markets.