Brent Flirts With $110 Before Reversing As Wright Declares Pump Prices Have “Peaked”

Brent crude futures briefly tagged $109.99 a barrel in overnight trading before retreating from five-month highs during the Asian session and into European trading, as signs of recovering Middle Eastern supply offset renewed attacks on energy infrastructure and critical maritime shipping lanes. US Energy Secretary Chris Wright reinforced expectations of easing fuel prices at the pump, with ABC News quoting him on Sunday as saying gasoline and diesel prices had “peaked.” “Both gasoline and diesel prices peaked a few weeks ago,” Wright said, adding that the US wants them to “pull back a lot more than they have.” He said…