Following a new round of clashes between the United States and the Islamic Republic, oil prices increased for the fourth consecutive day and edged close to $100 per barrel.

After the United States announced the destruction of five oil tankers linked to the Islamic Revolutionary Guard Corps in response to unsuccessful missile attacks on two of this country’s warships, the price of Brent crude rose 1.6% to $99.49, and West Texas Intermediate rose 1.72% to $94.63 per barrel.

The Islamic Revolutionary Guard Corps also announced that it targeted a U.S. base in Jordan with a missile attack.

Dan Stroehlein, co-head of Global Commodity Research at Goldman Sachs, said that the intensification of fighting and the increase in attacks on shipping have raised the likelihood of Brent crude jumping to above $120.

The New York Times also reported that the average daily flow of oil through the Strait of Hormuz in the seven days leading up to September 12, despite U.S. Army protection, was 60% less than before the war.

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