Brent briefly rose above $101 per barrel amid renewed US‑Iran tensions and a US‑ordered naval blockade.
President Trump announced extension of the two‑week ceasefire with Iran until Tehran presents a unified negotiating proposal.
Brent at $98.89 (+3.6%) and WTI at $89.98 (+2.9%) as analysts note Hormuz shipping remains largely shut.
Saudi Arabia and UAE increased bypass loading to 6.5 million bpd via Yanbu and Fujairah, up from 5 million bpd pre‑war.