Oil prices increase on renewed attacks in Middle East
Renewed Houthi strikes and Gulf of Mexico storm curbs tightened supply fears, with Brent at $101.88 and WTI at $89.99, traders said.
- On Wednesday, Brent crude oil rose 1.3% to $101.88 as traders weighed renewed Houthi rebel strikes in Saudi Arabia against storm-driven production outages in the U.S. Gulf of Mexico.
- Houthis claimed to launch ballistic missiles and drones at military facilities and airports—including King Abdullah bin Abdulaziz International Airport in Jazan and Najran International Airport—on Tuesday, spokesman Brig. Gen. Yahya Saree said.
- Operators curtailed 185,120 barrels of daily crude—equal to 9.2% of Gulf production—after forecasters warned the storm could strengthen into the season's first Atlantic hurricane within 48 hours.
- Twelve mariners, including 11 Indian nationals, were wounded on the Panama-flagged MT On Peace, while the EIA raised its fourth-quarter Brent forecast by $14 to $105 a barrel.
- Analysts at ING described a "tug-of-war" between improving regional supplies and lingering threats, as global oil inventories dropped 1.9 million barrels a day in the third quarter.
18 Articles
18 Articles
Oil Jumps 2% as Iran Steps Up Attacks on Hormuz Tankers
Brent crude swung back above $100 per barrel today as reports flow in about increasingly frequent Iranian attacks on tankers in Hormuz and U.S. Gulf of Mexico field operators began shutting in production ahead of a potential hurricane. At the time of writing, Brent crude was trading at $102.50 per barrel, up by over 2% from Wednesday’s close, while West Texas Intermediate was changing hands for $89.96 per barrel, up by 1.90% from Wednesday. Earl…
America’s nightmare just began: One spark and oil goes nuclear? Houthis attack & Mojtaba watches
Oil prices have surged back above $100 a barrel as a Gulf storm, Strait of Hormuz attacks and escalating Houthi strikes on Saudi Arabia pile fresh pressure on global energy markets. With major U.S. offshore production and Gulf Coast refineries facing disruption risks, the latest moves are raising questions over whether Washington and its Gulf allies can contain a widening energy shock.
Brent crude oil prices rose to $101.98 per barrel, according to data from the London stock exchange ICE Futures
Brent crude oil prices rose to $101.98 per barrel, according to data from the London stock exchange ICE Futures. As of 17:48 Moscow time, oil rose by $1.4 (1.39%) to $101.98 per barrel.WTI crude futures for November at the New York Mercantile Exchange...
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