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الخليج
Brent stays above $100 on supply worries
Oil prices have risen significantly and continued to stay above $100 per barrel, amid concerns over potential supply disruptions due to tensions between Iran and the United States and a decline in oil flows through the Strait of Hormuz, which used to carry about 20% of the world's supplies before the conflict. The ongoing rise in prices depends on Chinese demand, as China has intensified its purchases despite decreased demand over recent months. This has pushed the price of Brent above $102 and resulted in about a 30% increase in the market since early August. Oil prices are expected to remain high as long as tensions persist and oil flows are halted, with the conflict in the Gulf continuing.
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