- Oil climbs as geopolitical tensions flare
- WTI prompt-month futures advanced $0.84 to $59.53/Bbl early Friday (7:45 AM CT)
- o In the Gulf of Oman, Iranian forces seized a Marshall Islands-flagged tanker, Talara, after it transited the Strait of Hormuz
- The vessel was redirected toward Iranian waters following a loss of contact with its operator, Columbia Shipmanagement
- US officials called the move state-sponsored and a breach of international law, stoking fears of another wave of disruptions to commercial shipping in the region
- Separately, Ukraine struck a key Russian Black Sea port overnight, prompting emergency measures
- Moscow retaliated with a broad air offensive on Kyiv, killing at least six and damaging residential areas
- Analysts warn the strikes are part of a campaign to cripple Ukraine’s energy grid ahead of winter
- These twin flashpoints come as Washington prepares to tighten sanctions on Russia, with restrictions on its two largest oil producers set to take effect in the coming days
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