Daily Market Updates: Oil prices extend gains above $90 on Hormuz tanker incident reports

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Oil prices extend gains above $90 on Hormuz tanker incident reports

West Texas Intermediate for October delivery and Brent for November rose to their highest levels in nearly two weeks after reports that two tankers were struck in the Strait of Hormuz.

Reported · Written up by our desk · Energy

Global oil prices extended their advance above $90 following reports that two tankers were struck in the Strait of Hormuz, according to MarketWatch.

MarketWatch said West Texas Intermediate’s October contract rose, while Brent’s November contract also moved higher, with both crude grades reaching their highest levels in nearly two weeks.

The move kept oil trading near the upper end of the recent range as the Hormuz incident added to market focus on regional shipping risk.

Latest closeWTI crude $86.62 ▲3.9%|Brent $88.80 ▼0.6%

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Sources

MarketWatchGlobal oil prices extend move over $90 after report of two tankers struck in Hormuz

Commodities

Oil prices extend gains above $90 on Hormuz tanker incident reports

More like this

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