Oil Prices Rise Above $106 a Barrel Amid Escalation in Middle East
5 Articles
5 Articles
Shafaq News - Follow-up: Global oil prices rose 5% on Thursday evening, with Brent crude surpassing $106 a barrel. The price of Brent North Sea crude for November delivery rose 5.01% to $106.28, after reaching $100.75, its highest level since last May. This increase is driven by the ongoing war in the Middle East, which continues to disrupt crude exports from the Gulf and is spreading towards the Red Sea, with the Houthis in Yemen launching a ne…
The price of Brent oil has crossed the psychological threshold of $106 per barrel, recording the highest price on international markets from May to this day. The escalation of geopolitical tensions threatens major trade routes and fuel fears.
Reference values increased by more than 5% and generated widespread falls in the world’s major stock exchanges. Read more
The rise in oil prices is still accelerating on Thursday, driven by the conflict in the Middle East.
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