U.S. oil holds above $100, Brent at five-month high as Iran says it’s prepared for warfare

JUST IN: US oil holds above $100 and Brent hits a five-month high after Iran says it is prepared for warfare, with Trump accusing Tehran of trying to manipulate the oil market.

Brent crude just hit a five-month high as Iran says it is ready for warfare.

Brent was trading at 114 dollars and 49 cents on Friday morning, up for a third straight week, while US crude held above 101. The pressure is coming from the Strait of Hormuz, where Iran's Revolutionary Guards say four vessels were struck and caught fire, and three more hit mines.

President Trump is calling that a lie. He accused Tehran of faking hits and mines to drive up oil prices before the US midterms, insisting more oil is moving through Hormuz now than before the conflict began. Iran's army chief answered by saying the military is fully prepared for asymmetric warfare.

And in Saudi Arabia, Aramco reportedly told staff to evacuate its Dhahran headquarters after Houthi attacks that have already killed people at its offices. When the world's biggest oil company sends its own workers home, the market is pricing fear for a reason.

This is Sara White, reporting for HIT.