22 Hrs
Source:
الاقتصادية
Oil prices climb for sixth day
Oil prices have risen for the sixth consecutive day amid doubts about the possibility of reaching an agreement to restore oil flows through the Strait of Hormuz, despite optimistic statements from officials. Brent crude surpassed $89 per barrel, marking a 12% increase over the past five sessions, while West Texas Intermediate (WTI) exceeded $84, with fluctuations caused by news of efforts to reopen the vital waterway. Regional tensions and US officials' statements about controlling the Strait and distrust of Iran suggest ongoing uncertainty, with expectations that the depletion of global reserves could push oil prices toward $100 per barrel. Meanwhile, oil supplies through the Strait remain limited, raising market concerns over continued disruptions.
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