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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery shot up $6.02 to $102.48, its first time closing above $100 since May, while Brent for November added $6.42 to $107.63 (all figures in this para U.S.). Western Canadian Select traded at a discount of $27.20 to WTI, down from a discount of $20.80. Natural gas for October added one cent to $2.83. The TSX energy index lost 1.31 points to close at 452.76.

Oil prices jumped again, with both Brent and WTI in the triple digits, on fears of further disruptions to Middle East supplies. Iran-backed Houthis seized control of Yemen's port of Mocha, adding an extra layer of threats to Red Sea traffic, while Gulf traffic through the Strait of Hormuz remains in a stranglehold. "With prospects for a definitive resolution to the Iran conflict dimmed ... crude oil markets are now settling into a prolonged new normal where disruption risk is persistent, not episodic," said a new analysis by S&P Global Energy.

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