NEW YORK >> Oil prices jumped 6% today, with both major benchmarks trading at over $100 a barrel as the biggest spike in attacks on shipping since the Iran war began fed worries among traders about further disruptions to already tight supplies.
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Oil prices rose toward $97 a barrel on renewed US–Iran strikes and restrictions near the Strait of Hormuz, keeping markets wary of persistent supply disruptions with Brent around $96.80 and WTI near $92.14, while gold slipped as stronger US jobs data boosted the odds of a Federal Reserve rate hike.
Global oil markets remain under pressure from Middle East disruptions, with Brent hovering around $100 as Hormuz and Saudi facility issues tighten supply, fueling inflation risks and prompting cautious policy stances.
Brent crude ticked up closer to $100 per barrel today as hopes for peace in the Middle East continued to shrink amid renewed mutual threats between the United States and Iran. At the time of writing, the international benchmark was trading at $97.66 per barrel, with West Texas Intermediate at $93.
US stock futures fell as oil approached $100 a barrel amid renewed Middle East tensions, stoking concerns about inflation and the Federal Reserve’s rate path ahead of this week’s CPI and PPI data. Investors balanced a stronger jobs backdrop with persistent energy-price pressures, trade tensions, and…
Saudi Arabia has temporarily halted some operations at energy facilities in its southern region bordering Yemen, following attacks on energy sites on Tuesday morning local time, the official Saudi Press Agency reported.
The latest set of ballistic missiles and drones by the Iran-backed Houthis left dozens wounded and targeted energy installations in southern Saudi Arabia.
Brent, the international oil benchmark, touched $99 a barrel after Saudi Arabia reported an attack on energy assets that caused temporary pauses in operations.
Prices were on the rise after the Saudi energy ministry – the world’s largest oil exporter – said operations at some of its facilities had been disrupted by strikes from Iran-aligned Houthis.
Brent oil approached $100 a barrel, before paring some of its gains, after Saudi Arabia said operations at several energy facilities in the kingdom’s south were halted by attacks.
The average price for a gallon of gas in the U.S. was $4.22 on Wednesday. California drivers were paying the highest, and Indiana drivers were paying the lowest.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon. As of early morning trade in Europe on Wednesday, the international benchmark, Brent Crude, jumped by 2.
By Tony Munroe and Anushree Mukherjee SINGAPORE, Sept 9 (Reuters) - Benchmark Brent crude oil futures rose past $100 a barrel on Wednesday, hitting a more than six-week high and breaching the symbolic threshold for the first time since July 24 as intensifying conflict in the Middle East heightened c…
SINGAPORE, Sept 9 (Reuters) - Benchmark Brent crude oil 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. Brent crude futures rose $2.
By Anushree Mukherjee and Robert Harvey Sept 9 (Reuters) - Brent crude futures breached $100 a barrel on Wednesday for the first time since July 24 as escalating attacks in the Middle East, including on tankers, stifled hopes of a normalisation of oil shipping in the region.
Brent topped $100 a barrel for the first time since July as fresh U.S.-Iran attacks and Iranian missile fire into Jordan added to the escalating conflict.
Brent oil hit $100 a barrel for the first time since July as attacks between the US and Iran and a recovery in Chinese oil buying propelled the global crude benchmark higher. US forces destroyed five Iranian tankers carrying crude oil on Tuesday in response to two attempts to hit a US Navy warship w…
By John Towfighi, CNN New York (CNN) — Global oil prices are back at $100 per barrel, rising to their highest levels since July as fighting in the Middle East raises concerns about prolonged disruptions to oil supply. Brent crude, the global oil benchmark, rose 2.
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Oil surges 6% after new tanker attacks in Middle East | Since Then
