CRUDE WRAP: WTI (U6) SETTLES USD 5.36 HIGHER AT 92.19/BBL; BRENT (U6) SETTLES USD 6.62 HIGHER AT 100.69/BBL

The crude complex further extended on its week rally as US/Iran relations shown no sign of improving, or attacks de-escalating. Overnight, US and Iran exchanged strikes for a 12th consecutive night while Yemeni Houthis threatened further supply disruptions, as they attacked oil tankers in the Red Sea. Trump later annnounced he will hold Iran and the Houthis themselves will be responsible if they attack ships again. Continuing to add to the picture, US President Trump said today he is "considering a massive attack greater than anything before, I'm close to making a decision", noting "Israel will join in within 2 minutes if I ask". Within the interview, the President didn't give a timeline for his decision but added they [Iran] haven't received enough pain yet. As such, Brent breached USD 100/bbl for the first time since May, to hit a peak of USD 102.00/bbl, while WTI topped out at USD 93.50/bbl. Ahead, there is a lack of US data on Friday before a big week of risk events next week, headline by the latest FOMC confab and ongoing geopolitcal developments.