Oil Price Surge Continues, with No End in Sight: How October's Fuel Prices Could Be Affected
Brent climbed toward $110 a barrel as US diesel reached a record above $6 a gallon, intensifying inflation worries and market losses.
- On Monday, oil prices jumped after Saudi Arabia closed its key East-West pipeline following drone attacks by Yemen's Houthis, with Brent North Sea Crude rising 3.8 percent to $108.57 per barrel.
- Persistent Middle East conflict, including the effective closure of the Strait of Hormuz and the Bab al-Mandab, deepened worries about sustained inflation, prompting analysts to expect the Federal Reserve to raise interest rates.
- A widespread sell-off in technology stocks rattled sentiment, as Anthropic CEO Dario Amodei warned on Saturday that "addressing the risks requires even more prudence" and Patrick Munnelly said investors must "reassess the speed, scale and monetisation timeline of the sector's capital expenditure boom."
- Chris Weston, an analyst at Pepperstone, noted markets see "a 92 percent probability of a hike, with 50 basis points of cumulative tightening assumed by year-end," while stocks opened broadly lower on Wall Street with Nasdaq down 1.1 percent.
- Rising interest rates put the Federal Reserve on a potential clash with President Donald Trump, who pledged economic relief ahead of the November congressional elections, as inflation fears remain elevated from last week's consumer price data.
33 Articles
33 Articles
The situation in the Middle East is getting worse, and a planned meeting in Oman is coming to an end. Oil prices rise above 107 dollars. This has consequences for motorists and fuel oil customers.
The situation on the international oil market continues to deteriorate, and this means new pump charges on the Romanian market. After blocking the Ormuz Straits, two other oil transport routes, plus Russian refineries, are being attacked, which has raised the price of oil to over $107 per barrel month in the morning.
The listing rises by 2.68%. Brent over $107 (ANSA)
Brent crude jumps above USD 107 amid rising Middle East tensions
New Delhi: Crude oil prices jumped sharply on Monday, September 15, with Brent crude rising above USD 107 a barrel, amid escalating tensions in the Middle East raising fears of disruptions to global energy supplies. Brent for November delivery gained 3.20 per cent to USD 107.82 a barrel, while US benchmark West Texas Intermediate for … Get the latest updates in Hyderabad City News, Technology, Entertainment, Sports, Politics and Top Stories on W…
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