Hormuz attacks drive oil prices toward $100
pre-market1 source ↓written by the desknot a recommendation
- as tensions escalate
- $100 per barrel
- despite
- 5% weekly gain
- build in US
- 17-million-barrel
Crude oil prices are nearing $100 per barrel as tensions escalate in the Strait of Hormuz due to Iranian attacks on shipping. This week, Brent is poised for a 5% weekly gain despite a 17-million-barrel build in US crude inventories, reflecting strong market sentiment amid geopolitical risks. If naval attacks persist, prices may surge further. ⚡
Not investment advice. For informational purposes only.