Brent crude briefly topped $99 per barrel, after crude earlier reached $94, its highest level in six weeks, as US-Iran military action and regional attacks intensified concerns about Middle East supply disruptions. US forces struck targets near Kharg Island and Jask, including Iranian oil tankers; Kharg Island handles about 90% of Iran’s crude shipments. Saudi Aramco facilities were attacked, while Iran-backed Houthi militants claimed responsibility for targeting the 400,000-barrel-a-day Jazan refinery and other facilities serving Saudi Arabia’s domestic market. Iran also said vessels entering a proposed restricted maritime zone in the Strait of Hormuz would have to coordinate with Tehran. Market pricing put the probability of a new crude-price record by December 31 at 9.5% and the probability of a US invasion of Iran by the end of 2026 at 14.5%.