Commodities: Middle East Escalation Pushes Energy Prices Higher

Sapo

Lean Right

Factuality

Ownership

The markets remain trapped between the Yields and the oil barrel escalation. The Brent oil barrel quotation for delivery in November ended this Tuesday in the London futures market at 4.59%, for the $94.65, after a new U.S. attack on Iran.

Sözcü

Lean Left

Factuality

Ownership

Brent crude oil rose to $97.04 per barrel following reciprocal attacks between the US and Iran. Decreasing US crude oil inventories and attacks on commercial shipping in the Strait of Hormuz were other major factors driving prices higher.

Moneycab

Factuality

Ownership

Since the beginning of the week, oil prices have risen significantly after the Iran war had escalated again. During this period, crude oil of the Brent variety has increased by about seven percent.