14 Hrs
Source:
عين ليبيا
Oil prices climb near $100
Oil prices rose during Monday's trading session, amid ongoing concerns over prolonged disruptions to energy supplies from the Middle East due to the escalation between the United States and Iran, following attacks on oil tankers and exchanges of strikes in the Strait of Hormuz. The price of Brent crude increased to $96.80 per barrel, while West Texas Intermediate rose to $92.14, after recording weekly gains of approximately 7.8% and 10%, respectively. The military escalation heightens the possibility of restricting shipping through the Strait, which previously accounted for about 20% of global oil supplies. Iran has issued warnings of imposing restrictions in the area, and there is growing concern about the continued tension and its impact on energy markets well into early 2027. Expectations suggest that exports will remain constrained during the second half of the year.
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