Brent Crude Above $102 Amid Hormuz Tensions

Brent crude futures rose 0.8% to $102.77 per barrel, while WTI climbed nearly 1% to $93.86 per barrel.
Iran seized two vessels in the Strait of Hormuz, keeping the waterway largely shut and blocking about 20% of global oil supply.
U.S. oil and petroleum product exports reached a record 12.88 million barrels per day, while gasoline inventories fell 4.6 million barrels, contrary to expectations.
Overall U.S. crude inventories rose 1.9 million barrels, opposite to the anticipated 1.9 million‑barrel draw, indicating supply build‑up.