Brent crude tops $91 a barrel after tanker halt near Strait of Hormuz

TEHRAN, Iran — LONDON — Brent crude futures rose above $91 a barrel for the first time since July 31, with the October contract climbing 2.86% to $91.05 in Asian trading. West Texas Intermediate for September delivery gained 2.99% to $83.90 a barrel during the same session. The price move followed reports that Iran stopped a United Arab Emirates-flagged oil tanker near Qeshm Island in the Strait of Hormuz, according to Iran's Fars news agency. Iranian authorities said the vessel did not comply with transit regulations set by Tehran, though no further details were immediately released. Brent's break above the $91 level pushed global benchmarks higher as traders weighed the risk of further disruption to shipping through the narrow waterway, through which a significant share of the world's seaborne crude transits. Volatility in oil futures increased after the reported interception. No statement from Emirati officials on the detained tanker was immediately available.