Oil rose for a third session as signs of escalation in the Middle East stoked
concerns about disruptions to regional energy flows. A U.S. official said the
PENTAGON may deploy an aircraft carrier and roughly 10,000 sailors and Marines
to the Persian Gulf to give Trump more options to escalate military action
against Iran. The buildup comes after markets had begun to ease earlier supply
fears; Wall Street analysts said this week regional crude output is approaching
pre-war levels while refined-product availability remains below that level.
Latest signs suggest a U.S. naval blockade is cutting Iran out of energy
markets: Iran appears to have loaded no crude onto tankers in September. Futures
swung sharply this week as traders weighed improving crude flows against the
risk of wider escalation. The U.S.-Iran war has entered its eighth month with
scant diplomatic progress; Brent is up about 70% year-to-date.
