Two Tankers Hit Off Saudi Arabia as Brent Tops $110 Friday

Brent topped $110 a barrel Friday for the first time since May, rising 3.7%, as two tankers were struck northeast of Saudi Arabia’s port city of Jubail.

One tanker, about 78 nautical miles northeast of Jubail, was damaged after a small craft launched a rocket-propelled grenade. No casualties were reported. An unidentified projectile hit a second vessel roughly 68 nautical miles northeast of the port. The vessel’s crew was evacuated, with all members reported safe.

New York diesel futures settled at $4.90 a gallon. Gasoline also rose, putting both fuels at seasonal highs for this point in the year.

Oil flows through the Strait of Hormuz exceeded 100 million barrels this week, approaching prewar levels. Brent’s Friday rise extended its gains to a second straight week, as traders increased bets on higher crude prices before the weekend.

The new incidents came after two outbound tanker strikes in the Strait of Hormuz on Oct. 10–11.