10 Hrs
Source:
المشهد العربي
US crude up slightly as Brent dips
The performance of oil futures was intense and showed divergence, with a slight decline in Brent crude and a more than 2% increase in U.S. oil, driven by an escalation in conflict in the Middle East and increasing attacks in the Strait of Hormuz. This led to a reduction in oil flows through the region from over 20 million barrels per day to approximately 8.5 million barrels daily. Prices were also affected by Iran's announcement of a fire and explosion onboard an oil tanker, amid intensive diplomatic efforts including a visit by the Russian Foreign Minister to Tehran. As a result, Brent prices fell to $109.55 per barrel, while West Texas Intermediate rose to $103.66.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)