Oil Surges Above $95 on Renewed US-Iran Fighting and Hormuz Disruption Concerns
10 Articles
10 Articles
Oil price today: Crude continues to trade beyond $95 per barrel amid Hormuz supply tensions
Oil prices took a minor dip on Thursday following a turbulent trading day. Investors are closely monitoring the repercussions of the US-Iran strikes on oil supply lines. Activity in the Strait of Hormuz is currently lower than average. This disruption fosters worries regarding global oil availability and possible price hikes as countries explore alternative sources while depending on diminishing reserves.
Brent exceeded US$ 97 and the WTI advanced to US$ 92.60 after further Iranian attacks on US targets. The market fears that energy will again push inflation and force the Federal Reserve to tighten its monetary policy. Read more
The Brent crude barrel was not located at these levels since the beginning of June. European gas prices operate at peaks in almost four years.
US-Israel-Iran War Live News: Oil Prices Fall Slightly – Brent Holds Near $95 & WTI Above $90 as Hormuz Traffic Drops Sharply, Global Oil Supply at Risk
US-Israel-Iran War Live News: Oil prices ease near $95 as Hormuz shipping falls, Iran backlists more tankers and attacks raise fresh concerns over crude and fuel supplies worldwide.
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