2 Days
Source:
AL24 News
Oil surpasses $91 amid Middle East supply worries
Oil prices have risen significantly amid renewed clashes between the United States and Iran, raising concerns over potential disruptions to crude supplies in the Middle East. Brent crude surged by 1.2% to reach $91.54 per barrel, while West Texas Intermediate increased by 1.5% to $87.03, following a decline in shipping activity through the Strait of Hormuz, with only 5 ships passing compared to the average of 14 ships daily. A tanker was struck by three projectiles while sailing outside the strait, without injuries or environmental damage. This incident supports forecasts that oil prices may remain above $80 per barrel throughout 2026, especially amid ongoing supply disruptions and military events.
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