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Brent crude futures rose 0.1% to $101.34 a barrel by 0107 GMT. U.S. West Texas Intermediate crude was at $96.55 a barrel, up 0.5%. Iran said on Wednesday it had attacked 10 ships near the Strait of Hormuz after the U.S. sank five Iranian oil tankers, and Iran's Revolutionary Guard Corps said it would escalate its response to any further attacks. "The tit-for-tat attacks suggest oil flows from the Persian Gulf are likely to remain disrupted for the foreseeable future," ANZ analyst Daniel Hynes said in a client note. Oil flow through the Strait of Hormuz, the waterway that before the war carried roughly a fifth of global oil and gas supplies, remains well below its pre-war level. The U.S. Energy Information Administration on Wednesday raised its oil price forecasts for this year and next, as global stockpiles drop due to the loss of Middle Eastern supply. "The broadening of the conflict threatens to risk even deeper disruption to oil supplies that had already left the oil market scrambling to adjust," Hynes said. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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