14 Hrs
Source:
AL24 News
Oil prices jump over 3% to $107
Oil prices rose significantly, with the price of a barrel of Brent crude increasing by over 3% to $107.75, due to ongoing tensions in the Middle East and the closing of the Strait of Hormuz. Additionally, regional oil exports reached their highest level since the start of the war in February, as shipments through the Strait of Hormuz recovered, reaching approximately 7.4 million barrels per day in September. This came after Saudi Arabia shifted its exports from the Yanbu port to Ras Tanura following attacks that damaged pipeline infrastructure.
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