Oil Prices Increase, Concern for US Military Strike in Iran Grows
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A barrel of Brent oil stood at $114 around noon on Thursday. It has closed above $100 every day since October 1st, and on September 30th it was at 98.03.
Is there another US military strike in Iran? These speculations are currently leading to further rising oil prices, while a barrel of Brent oil increased to more than 116 US dollars on Friday.
In the early trade, a barrel (159 litres) of the reference variety Brent cost 116.43 US dollars and thus 1.35 percent more than the previous day.
Brent crude oil prices rose 0.7 percent to $111.57 per barrel as concerns about oil supply increased following reports of possible US military attack plans against Iran and the tanker incident in the Strait of Hormuz. News that President Trump was presented with options for attacking Iran, along with security risks in the region, contributed to the price increase.
Concerns about oil supply, stemming from potential US attack plans against Iran and the tanker incidents in the Strait of Hormuz, caused Brent crude oil prices to rise 0.7% to $111.57 per barrel.
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