15 Hrs
Source:
الشرق
Oil stabilizes amid Strait security concerns
Oil prices stabilized at the beginning of today's trading session as investors assessed the security of navigation in the Strait of Hormuz, in light of the tensions between the United States and Iran and the potential escalation of the war. Brent crude futures rose to $91.87 per barrel, up by 25 cents (0.3%), while U.S. West Texas Intermediate futures declined by 2 cents to $85.81, with the October contract rising to $84.53, an increase of 14 cents (0.2%). Assurances regarding the security of navigation and concerns over possible escalation in the region helped stabilize prices after they had risen for four consecutive sessions, as the market continues to monitor military and political developments in the Strait of Hormuz.
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