15 Hrs
Source:
البلاد
Oil climbs 1% after tanker incidents
Oil prices have risen significantly, with Brent crude increasing by $1.45 to reach $88.52 per barrel, and West Texas Intermediate rising by $1.15 to stand at $82.40. This comes amid ongoing attacks on oil tankers and difficulties in reaching a ceasefire agreement between the United States and Iran. Additionally, forecasts indicate a slowdown in global demand growth, amid a substantial increase in U.S. oil inventories, which experienced the largest weekly rise in over three and a half years. These current increases are attributed to concerns over potential impacts on navigation through the Strait of Hormuz and threats to tighten the maritime blockade on Iran.
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