Brent crude held above $100 a barrel on October 9 as tanker traffic through the Strait of Hormuz fell to its lowest level in two months. Brent traded at $102.83 a barrel, with US West Texas Intermediate at $90.33, OilPrice.com reported.

Analysts at Kpler said crude crossing the strait fell 27% from a wartime high to at least 10.1 million barrels a day. Only seven commodity carriers crossed on Tuesday, the lowest count since late July. The drop follows renewed attacks on vessels in the waterway.

News also emerged of Iran striking a tanker in the Gulf of Oman. Between September 28 and October 2, at least 12 attacks hit tankers carrying crude oil, petroleum gas and liquefied natural gas, according to a US Navy-led maritime information center.

The United States added 17 Iranian tankers to its sanctions list this week. Reports that President Trump cited productive talks with Iran failed to calm markets.

Higher oil prices threaten inflation and growth in big importers like India. The coming days will show whether diplomacy or disruption sets the price.