Brent crude futures approached $100 per barrel for the first time in two months as renewed US-Iran hostilities, attacks claimed by the Houthi militant group and a Saudi operational halt raised concerns about oil supply. Brent rose about 2.3% to nearly $98.50 after briefly topping $99, while WTI gained 2.7% to $94. Goldman Sachs raised its December price targets to $85 for Brent and $80 for WTI, and sees prices at $80 and $75, respectively, in 2027. The bank said Brent could reach $120 if Persian Gulf supply remains severely disrupted, with intensified attacks on shipping through the Strait of Hormuz and Red Sea the most likely catalyst for further gains. A possible temporary safe-shipping arrangement between Iran and Oman does not include the United States. Rystad Energy's Jorge León said the market remains in limbo because the latest US-Iran exchanges have not represented a major escalation.