[Brent Crude Surpasses $102: Iran Claims Prepared for 'High-Intensity War'] BlockBeats News, September 10 – Brent crude oil prices have surpassed $102 per barrel, as concerns over the prolonged U.S.-Iran conflict intensify once again. According to Bloomberg, senior Iranian officials stated that Iran has no intention of backing down in the face of continued U.S. attacks on Iranian territory and is prepared to escalate its countermeasures further. U.S. President Trump remarked that the war might persist until after the midterm elections in November, and gasoline prices are unlikely to see a significant drop in the short term, further dampening market expectations for a near-term de-escalation of the conflict. Brent crude has risen nearly 70% this year, with the spot benchmark price briefly reaching $114 on Wednesday. Meanwhile, U.S. diesel prices are nearing $6 per gallon, and gasoline and diesel prices in Europe continue to climb, exacerbating energy inflation pressures. Market analysts suggest that if the conflict further disrupts oil transportation through the Strait of Hormuz, oil prices could continue to rise. Currently, the U.S. is compressing Iranian oil exports through maritime blockades, and White House advisors have discussed scenarios where the war could extend until the end of Trump's term. Additionally, increased crude oil procurement by Asian countries is further tightening global supply, though high oil prices may force some refineries to reduce processing volumes. U.S. diesel inventories are expected to drop to their lowest levels in over 20 years this month. [Original Link]