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عين ليبيا
Oil surpasses $104 as gold recovers
Oil prices jumped on Thursday due to rising concerns over energy supplies in the Middle East, amid increasing attacks on shipping vessels in the Gulf and the Strait of Hormuz, and suspension of offshore operations in the Gulf of Mexico caused by Hurricane Idalia. Brent crude futures rose by 3.87% to $104.1, while U.S. West Texas Intermediate (WTI) reached $91.44. Expectations of increased oil supplies from strategic reserves grew following the International Energy Agency’s decision to accelerate its drawdown to support the market, especially in light of the deteriorating refining sector and disruptions to tanker movements due to the war in the Middle East. Demand for diesel and oil prices have surged to unprecedented levels, while security risks and Iranian attacks on ships remain key concerns. Meanwhile, Gulf producers continue to boost exports despite these challenges, keeping oil prices at elevated levels.
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