Brent crude exceeds $100 with 6% rise
Oil prices witnessed a sharp rise following attacks targeting oil tankers off the coast of Saudi Arabia, amid renewed U.S. threats to escalate strikes against Iran. Brent crude surpassed $100 per barrel for the first time since May, recording a 6.4% increase to $100.05, while West Texas Intermediate rose by more than 5% to $91.08. This marks the third consecutive month of gains, with Brent crude increasing by approximately 36% and WTI by 30% during this period, amid escalating regional tensions between the United States and Iran following attacks on oil tankers and the potential for military escalation in the area.
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