Oil climbs toward $95 as US strikes Iran heighten Middle East tensions

Renewed US airstrikes on Iran targeting IRGC sites around Bandar Abbas and Chabahar propelled Brent crude above $94 and toward $95 per barrel, with US WTI also higher, as traders weigh potential supply disruptions from Persian Gulf hostilities and recent tanker attacks; Iran signaled retaliation, while markets fret over inflation from higher energy costs and await the Federal Reserve’s September meeting, with Treasury yields ticking up.