5 Hrs
Source:
وكالة بغداد اليوم الاخبارية
Middle East flames push oil prices higher
Oil prices rose globally today, Tuesday, amid concerns over potential disruptions to crude supplies in the Middle East due to the U.S.-Iran conflict. Brent contracts reached $105.91 per barrel, up by 0.6%, while West Texas Intermediate increased by 0.8% to $93.32. Additionally, oil exports from major Middle Eastern producers climbed to 12.8 million barrels per day in September, the highest since February, driven by increased shipments from Saudi Arabia and the UAE. However, the continued use of alternative shipping methods has raised costs and prevented prices from returning to their normal levels. Markets are also awaiting the outcomes of talks between the United States and Iran aimed at resolving the seven-month-long conflict, with the developments in the Strait of Hormuz remaining a key factor influencing price directions in the near term.
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