16 Hrs
Source:
وكالة الأنباء القطرية
Oil increases on geopolitical prospects
Oil prices rose significantly today, acknowledging market concerns over the geopolitical developments in the Middle East, especially in the Strait of Hormuz, through which about one-fifth of the world's oil supplies pass. Brent crude contracts increased by 99 cents (1.2%) to reach $83.48 per barrel, while US West Texas Intermediate contracts went up by approximately 85 cents (1.1%) to $78.84. This rise comes after oil futures closed yesterday with gains exceeding three dollars per barrel, amid ongoing geopolitical tensions in the region.
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