Brent crude crosses $100 after tankers reportedly struck off Saudi Arabia
Brent crude rose 6.1% to $99.78 as attacks on two Saudi tankers renewed fears of supply disruptions and pushed stocks lower.
- On Thursday, Brent crude futures surged above $100 per barrel following attacks on two Saudi oil tankers in the Red Sea, climbing 6.1% to $99.78 and briefly topping $100.
- Houthi rebels in Yemen claimed responsibility for the assaults, which threaten a critical maritime corridor used to ship Middle Eastern crude to customers worldwide.
- Stocks fell as rising fuel costs pressured profits, while the Treasury yield rose to 4.70% on fears inflation might force the Federal Reserve to raise interest rates.
- President Donald Trump threatened "major military punishment" against Iran-backed Houthi rebels if they continue targeting maritime shipping routes.
- Oil prices surged from below $72 a few weeks ago, illustrating how quickly geopolitical conflict has replaced optimism and threatens to reaccelerate inflation.
359 Articles
359 Articles
Oil Has Topped $100 As The Iran War Escalates. Now Analysts Say Gas Prices Could Surge Even Higher
National average gasoline prices have already climbed above $4 a gallon, while crude oil has surged past $100 per barrel following weeks of escalating military action across the Middle East.
Global crude oil prices drop after climbing to $100/barrel
Global crude oil prices eased on Friday after climbing above $100 per barrel on Thursday amid worsening tensions in the Middle East. Checks by DAILY POST on Friday showed that Brent crude declined by 3 percent to $96 per barrel, while West Texas Intermediate (WTI) fell by 2.58 percent to $89.81 per barrel. This comes after Brent and WTI surged to […] Global crude oil prices drop after climbing to $100/barrel
Oil tops $100 per barrel again as Middle East war looks set to drag on
Oil prices, which recently topped $100 a barrel for the first time in weeks, look likely to increase further with unrest in the Middle East unlikely to abate, analysts warned. Hefty stockpiles among major consumers, alongside reductions in demand, have so far kept oil prices from careering out of control. But, Commerzbank’s chief economist noted, “risks continue to rise.” Any persistent, significant increase in oil prices — with knock-on consequ…
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