Oil Prices Rise as Deadly Attacks Dim Hopes for Hormuz Reopening

Brent crude climbed after the Aug 11 US strike on the blockade-running Vela Nova and the fatal Houthi 'double-tap' attack on the Tihamah deepened doubts that a Strait of Hormuz reopening was imminent. The IEA's monthly report warned of a 1.8 million bpd global oil-market shortfall this quarter as the conflict persists.