14 Hrs
Source:
عين ليبيا
Source: عين ليبيا
14 Hrsعين ليبيا
Source: عين ليبيا
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Oil prices continued to rise for the second consecutive session amid growing concerns over ongoing disruptions to energy supplies through the Strait of Hormuz, following renewed clashes between the United States and Iran. Brent crude for November delivery increased to $91.11 per barrel, while West Texas Intermediate (WTI) rose by 1% to $86.58. These movements occur as shipping patterns have unofficially shortened due to security risks, amid exchanges of attacks—such as strikes on a Strait island and missile launches targeting the UAE and Jordan. Meanwhile, U.S. President Donald Trump downplayed fears of military exhaustion, describing the conflict as a “small war” and emphasizing that the United States possesses vast and diverse munitions, which increases the likelihood of responding to any attacks. Despite this, the security of shipping remains fragile, with ongoing threats to safety in the Strait. Significant price increases are being driven by tensions, even as ongoing security risks persist for passing vessels and refined petroleum product prices are rising faster than crude oil prices—particularly in the diesel market.
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