Oil Touches $107 as Middle East Flare-up Heightens Supply Worries
6 Articles
6 Articles
Oil touches $107 per barrel as Hormuz remains choked for over six months
This week, oil prices surged past a hundred dollars per barrel amidst growing worries over supply disruptions caused by attacks on shipping routes in the Middle East. US fuel prices reflect this trend as supply chains experience strain. The trajectory of future oil prices will heavily depend on China's import choices, with OPEC adjusting its global oil demand growth forecast for 2026.
The European crude scales more than 5.5% and the gas reaches maximums of 2022, with the Ibex 35 negative after the rise of rates of the ECB. The entry Brent exceeds 107 dollars (+5.5%) and the gas touches maximums since 2022 with the Ibex in tension appears first in Merca2.
Brent Crude Surges to $107 Per Barrel as Shipping Risks Mount
By Adedapo Adesanya On Thursday, Brent crude futures grew by $6.42 or 6.34% to $107.63 a barrel, while US West Texas Intermediate (WTI) crude futures soared by $6.43 or 6.69 per cent to $102.48 a barrel, as the biggest spike in attacks on shipping since the Iran war began fed worries about tighter supplies. Iran-aligned […]
Oil prices jumped by more than 6% yesterday evening, Thursday, and Brent's ore exceeded $107 per barrel, amid heightened concerns about the disruption of crude supplies as attacks on vessels and oil tankers increased in the Middle East.
Oil is expensive after attacks in the Middle East have intensified, and investor fears are growing in the context that September and October are a period of high volatility in financial markets.
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