US EditionBrent Crude Nears Six-Month High on Iran Attack Concerns
- On Thursday, Brent crude futures rose $2.61, or 3.8%, to $71.01 a barrel at 1404 GMT, its highest since August 1, and are on track to rise over 16% in January.
- Amid increased U.S. pressure, markets react as U.S. officials say President Donald Trump considers targeted strikes on Iranian security forces, while threats and a U.S. naval group arrival raise analyst concerns.
- U.S. West Texas Intermediate crude rose $2.54, or 4%, to $65.75 a barrel as producers brought wells back online after Winter Storm Fern and Tengiz oilfield, Kazakhstan restarts after last week's electrical fires.
- PVM analyst John Evans warned Iran, OPEC's fourth-largest producer with output of 3.2 million barrels per day, could close the Strait of Hormuz to the 20 million barrels per day navigating it.
- Analysts project a $3 to $4 per-barrel geopolitical premium that could push Brent to $72 over the next three months, Citi analysts said.
16 Articles
16 Articles
Brent crude nears six-month high on Iran attack concerns
Brent oil futures prices jumped on Thursday, hitting a near six-month high on rising concerns about a possible U.S. military attack on Iran, OPEC's fourth-largest producer with output of 3.2 million barrels per day.
Shafaq News - Follow-up: Brent crude futures jumped on Thursday, reaching over $70 a barrel, their highest level in nearly six months. This surge comes amid growing concerns about a potential US military strike against Iran, OPEC's fourth-largest oil producer with an output of 3.2 million barrels per day. Analyst John Evans of PVM said, "The immediate concern (in the market) is the collateral damage that would occur if Iran were to attack its ne…
Oil prices have reached the highest level in four months.
The reason is American threats to Iran.
Oil prices rose again in Asian trading today, reaching their highest levels in four months, as investors are closely watching escalating US threats against Iran, oil traders said.
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