Oil prices hold above $110 as Israel, Iran target major energy infrastructure throughout the Gulf

Oil prices held above $110 per barrel on Thursday after a wave of new escalatory attacks by Iran and Israel targeted key energy infrastructure throughout the Gulf, with price action only slightly slowed down by comments from US Treasury Secretary Scott Bessent suggesting the US may remove sanctions on Iranian crude. Futures on Brent crude (BZ=F), the international benchmark, soared through Wednesday night and Thursday morning to briefly cross $119 per barrel for the second time since the war began befor ...