Brent crude traded close to $100 a barrel on Wednesday, reaching levels last seen in July as markets ****** sed further military activity in the Middle East and its potential impact on regional oil supplies.
At 0614 GMT, Brent crude futures were up 1.3% at $99.22 a barrel, while U.S. West Texas Intermediate crude gained 1.2% to $94.13 a barrel.
Brent has risen approximately 25% since early August as fighting in the six-month conflict resumed and expectations for a permanent resolution diminished.
The conflict escalated on Tuesday as Iranian-backed Houthi forces in Yemen carried out strikes against several Saudi Arabian cities.
U.S. forces also struck multiple Iranian oil tankers, while Iran targeted a U.S. base in Jordan and attacked vessels.
#iranian #forces #east
At 0614 GMT, Brent crude futures were up 1.3% at $99.22 a barrel, while U.S. West Texas Intermediate crude gained 1.2% to $94.13 a barrel.
Brent has risen approximately 25% since early August as fighting in the six-month conflict resumed and expectations for a permanent resolution diminished.
The conflict escalated on Tuesday as Iranian-backed Houthi forces in Yemen carried out strikes against several Saudi Arabian cities.
U.S. forces also struck multiple Iranian oil tankers, while Iran targeted a U.S. base in Jordan and attacked vessels.
#iranian #forces #east
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