U.S. oil tops $90, Brent above $98 after tankers struck off Saudi Arabia
Brent topped $98 as Houthi attacks on Saudi tankers raised fears of wider supply disruptions and sent oil up nearly 20% in two weeks, analysts said.
- U.S. oil prices have risen above $90 per barrel, with West Texas Intermediate crude exceeding US$92 per barrel, marking an almost six percent increase, amid geopolitical tensions involving Ukraine and Iran-backed Houthi rebels.
- Brent crude has surpassed $98 per barrel, approaching triple-digit prices as global geopolitical conflicts intensify.
- The Canadian national average fuel price is now over $1.80 per litre, a two-cent increase from the previous day and an eight-cent increase from a week ago, according to Gasbuddy.com.
- Patrick De Haan of Gasbuddy predicts fuel prices in Canada could increase by another five to ten cents soon, with diesel possibly reaching record highs, affecting costs for industries using heavy machinery and transportation.
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"They wanted to punish Iran. Instead, they were punished with three-digit oil. Strategy 10/10," wrote the president of the Iranian parliament on social network X, referring to the surge of crude oil, an increase that aggravates global inflation resulting from Washington's war actions.
Ckpg Today
Fuel costs on the rise as latest geopolitical turmoil drives up crude oil prices
CALGARY — Fuel costs are on the rise in Canada as geopolitical turmoil drives the price of crude oil to its highest level in more than a month. Gasbuddy.com, which crowdsources pump price data from across Canada and the U.S, says the Canadian national average now sits above $1.80 a litre — a two-cent increase from a day earlier and an eight-cent bump from a week ago. Patrick De Haan, head of petroleum analysis at Gasbuddy, says that could rise b…
Winnipeg Free Press
S&P/TSX composite down more than 350 points as oil tops US$90 a barrel
TORONTO - Canada's main stock index fell more than 350 points in late-morning trading as the price of oil rose to top US$90 a barrel after attacks on two Saudi oil tankers in the Red Sea.
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