Daily Market Updates: Brent crude tops $100 for first time since July as Persian Gulf fighting grows

Commodities

Home›Commodities›Energy›Brent crude tops $100 for first time since July as Per…

Brent crude tops $100 for first time since July as Persian Gulf fighting grows

Oil prices rose further as escalating U.S.-Iran tensions heightened concerns about potential disruptions to Middle East energy supply.

Reported · Written up by our desk · Energy

Brent crude climbed above $100 for the first time since July as tensions between the United States and Iran escalated, raising worries about additional disruption to Middle East energy supplies, CNBC Markets reports.

The move extended oil’s gains on Wednesday amid heightened fighting in the Persian Gulf, with traders reacting to the prospect of supply risk.

As the conflict intensified, investors pushed prices higher, reflecting the market’s sensitivity to the region’s role in global crude production.

Latest closeWTI crude $94.28 ▲3.1%|Brent $99.39 ▲3.2%

← Newer storyUSDCAD falls despite US-Canada tariff escalation Older story →Oil climbs back above $100 a barrel, reigniting inflation worries

More like this

CommoditiesUkraine drone strike hits fuel terminal at Russia’s Novorossiysk port

CommoditiesOil tops $100 a barrel as UK air traffic outage sparks chaos

CommoditiesCalifornia heat wave boosts power demand and pressures the grid

CommoditiesNew England natural gas prices remain near record discounts to Henry Hub

CommoditiesBrent rises above $100 as Middle East supply risks return

Sources

CNBC MarketsBrent crude tops $100 for first time since July as fighting escalates in Persian Gulf

Commodities

Brent crude tops $100 for first time since July as Persian Gulf fighting grows

More like this

Sources

Get the close, explained.