Brent crude hits five-week high on US-Iran tensions

Brent crude touched a five-week high above $94 a barrel as US-Iran tensions intensified.

Analysts expect crude prices to remain in the $90-100 a barrel range, not a sustained climb toward $112.

Manoranjan Sharma of Infomerics Valuation and Rating Limited said current prices do not signal a major structural supply disruption.

Sharma noted that a move to $120 would require a fresh escalation, such as a prolonged Strait of Hormuz disruption.

Investors are watching crude oil inventory data, as an unexpected drop could push NYMEX prices toward $90, said Deveya Gaglani of Axis Direct.