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Oil rises 4% as Brent exceeds $105
Oil prices surged significantly, with Brent crude rising above $105 per barrel. Tensions in the Gulf region escalated due to attacks on oil tankers, increased military activity in Yemen, and threats from the United States and Iran. The continuation of attacks and potential disruptions pushed prices up by more than 30% since the beginning of August, amid growing concerns about the ongoing conflict and its impact on global oil supplies. The market remains threatened by longer-term disturbances due to escalating conflicts, especially with the increasing importance of Chinese demand, which could further drive up prices if purchases continue.
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