U.S.-Iran Strikes Lift Oil

Brent crude climbed to about $99 a barrel and U.S. West Texas IntermediateWest Texas Intermediategrade of crude oil used as a benchmark in oil pricing to roughly $94 after the U.S. military destroyed five Iranian crude tankers Tuesday and U.S. officials reported another Iranian attack on Navy ships. The moves heightened concerns over Middle East supply disruptions, including around Kharg Island, Saudi infrastructure, the Persian Gulf and the Red Sea. U.S. gasoline averaged $4.15 per gallon over Labor Day, while diesel reached a record high as refineries ran near capacity. Goldman Sachs estimated further attacks could push Brent above $120 a barrel.