Oil prices rise above $100 a barrel for first time since July as Iran war escalates
- Benchmark Brent crude futures rose past $100 a barrel on Wednesday, breaching the symbolic barrier for the first time since July 24 as intensifying conflict in the Middle East fuelled growing concern about oil flows from the region.
- Hopes for a permanent resolution to the six-month-old United States-Iran conflict have faded since early last month, driving Brent prices up by a quarter as Iran-backed Houthis attacked Saudi energy facilities this week.
- Data from Rystad Energy's Chief Economist Claudio Galimberti shows oil flows through the Strait of Hormuz fell below 2 million bpd recently, down from roughly 8 million to 9 million bpd before fighting resumed on August 30.
- Goldman Sachs, Bank of America and HSBC have raised their crude price forecasts in recent days, reflecting market concerns over tightening global supply amid the escalating regional conflict.
- The International Energy Agency expects global oil supply to fall by 4.3 million bpd, or about 4%, this year, while The Houthi attacks threaten Red Sea shipments, a key alternative to the Strait of Hormuz.
188 Articles
188 Articles
The price of a barrel of Brent oil has crossed $100 again. This is the first time since July 24.
The new spiral of escalation in the Iranian crisis has planted prices of real oil supplies above $100 per barrel, and the cost of Russia has also increased.
A barrel of Brent crude oil has not been this expensive since the end of July.
The price of the barrel of Brent do Mar do Norte reached on Wednesday the $100 for the first time since the end of July, in the midst of the worsening hostilities in the Middle East. With new projects: Natural gas offer in Brazil will jump 50%, but experts claim that it will be necessary to stimulate special consumption: Foz do Amazonas will have 3 more holes perforated; understand in graphs how the exploration will be The contract for delivery …
Around 09:45 p.m. in Paris, the CAC 40 star rating lost 0.75% at 8.255.66 points. The previous day, the CAC 40 index had gained 0.14%, closing at 8.317.98 points. The world crude benchmark, Brent oil, on Wednesday exceeded the critical threshold of $100 per barrel for the first time since the end of July. Crude prices continued to rise "after the new American strikes against Iranian oil tankers near the strategic island of Kharg", notes John Pla…
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