Brent exceeds 110$ on region tensions

Oil prices rose slightly today, Wednesday, with Brent crude surpassing $110 per barrel, driven by threats of attacks on ships near the Strait of Hormuz and increasing geopolitical tensions in the region. Incidents involving ships struck by naval mines have occurred, while U.S. oil inventories declined by 4.9 million barrels last week, marking the third consecutive weekly decrease. Although oil supplies from the Gulf have recovered, political risks and ongoing attacks on infrastructure continue to drive up prices. This year, oil prices have surged by nearly 80% due to energy supply disruptions in the Middle East, Ukraine, and Russia. Negotiations for peace are ongoing, but a quick agreement is not expected, as security threats continue to impact global oil flows.

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