Brent rises more than 2% following tit-for-tat strikes by the U.S. and Iran

STRAIT OF HORMUZ, IRAN - MAY 16: Ships remain anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran. Negotiations between the U.S. and Iran over opening this critical waterway have largely stalled as the countries have rejected each other's proposals to end the war that began when the U.S. and Israel attacked Iran on February 28. (Photo by Majid Saeedi/Getty Images)Majid Saeedi | Getty Images News | Getty ImagesOil rose Wednesday, as Mideast tensions continue to escalate after the U.S. carried out its latest round of attacks on Iran, while Tehran reportedly struck back at U.S. allies. Futures for international benchmark Brent crude for November delivery gained over 2% at $96.59 a barrel. U.S. West Texas Intermediate futures for October advanced 1.73% at $91.78 per barrel.Stock Chart IconStock chart icon Brent The U.S. Central Command said in a post on X, the strikes "follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members."A tanker was struck by three unknown projectiles while transiting Hormuz on Monday, the U.K. Maritime Trade Operations Centre said in an incident report."I'm not tryin...