Oil prices jump on Middle East shipping attacks and US hurricane threat

Brent crude rose 3.8% to $104 a barrel on Thursday as Gulf tanker attacks and a US hurricane squeezed global supply.

• The Atlantic reported the White House has asked the Pentagon to prepare strike options against Iran before the US midterm elections.
• Shell and Chevron said they were shutting Gulf of Mexico production as tropical storm Isaias strengthened into the first hurricane of the Atlantic season.
• A tanker was struck by multiple projectiles off Qatar's north coast on Wednesday, causing casualties, the UK Maritime Trade Operations said.
• US crude inventories fell by 3.2 million barrels to 424.1 million barrels in the week ending October 2, the Energy Information Administration said.
• Kpler data showed 10 vessels were struck in the Strait of Hormuz over the past week, cutting tanker transits to a two-month low.
• The International Energy Agency confirmed member states were ready to accelerate releases from strategic petroleum reserves.
• The International Energy Agency approved accelerating the drawdown of strategic reserves and prioritizing diesel supplies, potentially injecting about 100 million barrels.