Oil Prices Surge to Six-Week High After Renewed Mideast Tensions
Brent and U.S. crude rose as supply fears deepened, with six vessels transiting the Strait of Hormuz on Wednesday, down from 11 a day earlier, data showed.
- Oil prices hit six-week highs on Thursday after U.S. strikes on Iran and renewed Israeli threats heightened supply concerns. Brent crude rose $1.76, or 1.8%, to $97.39 a barrel, while West Texas Intermediate increased $1.91, or 2.1%, to $92.92.
- Israeli Defence Minister Israel Katz warned Israel would "cripple" Iran's military and energy infrastructure if Tehran launched attacks, while U.S. strikes on Iran killed eight people and wounded 108, intensifying Middle East supply disruption fears.
- Only six commodity vessels transited the Strait of Hormuz on Wednesday, down sharply from 11 the previous day and well below the 10-day average of around 13, preliminary shipping data showed on Thursday.
- Iraq increased oil exports to around 2.34 million barrels per day in August from about 1.35 million in July, as heavy discounts and Iranian approvals for tankers through the strait encouraged buyers.
- Traders have increased bets on a Federal Reserve interest rate hike this month, reflecting broader market volatility as participants weigh geopolitical instability against potential monetary policy shifts.
11 Articles
11 Articles
Oil prices rose today, Thursday, with rising American-Iranian tensions and growing fears of disruption of supplies in the Middle East.
Oil prices hit fresh 6-week highs on renewed Middle East tensions
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Oil Prices Rise as U.S.-Iran Conflict Raises Fresh Concerns Over Middle East Supply Disruptions
Oil prices climbed Thursday as renewed military tensions between the United States and Iran and fresh Israeli threats against Tehran heightened concerns about possible disruptions ... The post Oil Prices Rise as U.S.-Iran Conflict Raises Fresh Concerns Over Middle East Supply Disruptions first appeared on [your]NEWS.
Fresh Middle East strikes raise crude prices to almost $90/barrel - Hello Entrepreneurs
Washington DC, September 04: Crude oil prices surged toward the $91 mark on September 4, marking the largest weekly gain in recent months following fresh US strikes in Iran. After weeks of a stalemate that had momentarily stabilized global energy markets, this surge has now renewed the risk of a broader regional conflict that continues […] <p>The post Fresh Middle East strikes raise crude prices to almost $90/barrel first appeared on Hello Entre…
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