Oil prices hold near 6-week highs on US-Iran attacks
XLE•Traffic through Hormuz falls
An average of 10 commodity ships transited the Strait of Hormuz per day over the past 10 days, the lowest since May, data from analytics firm Kpler showed on Monday.
"If tanker traffic begins to slow materially, the market could price in a much larger supply shock. And there are already signs that this is happening," said Priyanka Sachdeva, head of market insights at Phillip Nova.
Goldman Sachs said oil prices may rally to as much as $120 a barrel if attacks on shipping rise.
Oil prices stay near six-week highs
LONDON, Sept 7 (Reuters) - Oil prices were near six-week highs on Monday as tit-for-tat strikes between the U.S. and Iran on vessels sailing in the Strait of Hormuz and other areas kept crude oil flows in the Middle East low.
Brent crude futures were down 9 cents, or 0.1%, at a barrel at 0822 GMT, having earlier hit their highest point since July 24 at .
