Oil prices surge past $108 amid Hormuz tensions
pre-market1 source ↓written by the desknot a recommendation
- a barrel following
- $108
Brent crude surged above $108 a barrel following an attack on a merchant vessel in the Strait of Hormuz and the shutdown of Saudi Arabia's East-West pipeline. This closure, caused by drone strikes, heightens concerns over Middle East supply routes, pushing oil prices higher with Brent up 3% and WTI rising 2.3%. Traders are reacting to renewed geopolitical risks affecting oil supply.
Not investment advice. For informational purposes only.