Oil jumps about 5% as Iran steps up attacks on tankers in Hormuz; WTI closes up 3.6%
Brent rose about 4.8% to roughly US$105.02 and WTI to about US$92.69 during Thursday (Oilprice.com), citing Iranian attacks on tankers in the Strait of Hormuz and a Reuters count of a dozen attacks between 28 September and 2 October. US Gulf Coast operators began shutting in production ahead of a storm. WTI closed at US$91.50, up 3.60% (market data). Details come from one outlet and are attributed.
Oil sets the price of petrol, diesel and heating oil before tax. A 5% jump in a day can add several cent a litre within weeks.
The fuel excise cuts hold until 28 February, but they do not offset a rise in the oil price. Expect forecourt prices to nudge up if crude holds near these levels.
Analysts say tanker attacks raise the risk premium on shipping and justify higher prices.
Others note that prices have swung between US$100 and US$105 for weeks and that talks with Iran could pull them back.
The key number is Brent against US$100. A sustained move above it would test the budget's fuel measures well before the February deadline.
DailyDrop Ireland edition No. 5 · Morning · FRI., OCT. 9, 2026