Brent Oil Surges Near $100 as Attacks Halt Saudi Sites
Brent rose 2.3% to $99.22 as attacks on Saudi Aramco facilities injured more than 70 and forced some operations offline, CNBC reported.
- Iran-Aligned Houthi militants struck Saudi Aramco facilities in Jazan on Tuesday, injuring more than 70 people and forcing operations offline at a site processing up to 400,000 barrels of oil daily.
- Tensions escalated following US military strikes on three Iranian oil tankers after Iranian missile attacks on US warships, which Tehran labeled a "war crime." Houthi attacks on Saudi Arabia date back to 2019.
- Brent crude pushed toward $100 a barrel on Tuesday, rising 2.3% amid intensified hostilities, while West Texas Intermediate reached a six-week high at $94 per barrel.
- Dow futures fell more than 400 points, about 0.8%, as rising energy costs drove Treasury yields higher and Wall Street focused on upcoming US inflation data.
- Survo Sarkar, Head of Energy Research at DBS Bank, warned that the recent uptick in US-Iran hostilities "has the potential to materially change markets" regarding oil price-related risks.
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On Tuesday, the price of Brent's barrel climbed to $99.46.
Houthi attacks on Saudi energy infrastructure revive concerns about global oil supply, with Brent hitting $98 and markets pricing in prolonged tension
(New York = Yonhap News) Correspondent Lim Soo-jung = International oil prices fell on the 8th (local time) as tensions in the Strait of Hormuz were compounded by attacks on Saudi energy facilities on the Red Sea coast...
Oil Prices Spike Toward $100 As Saudi-Houthi Strikes Escalate Regional Conflict - Tampa Free Press
Cross-border military strikes between Saudi Arabia and Yemen’s Houthi rebels flared Tuesday, pushing international oil prices to a seven-week high and sparking fresh warnings from global leaders over expanding conflict across critical Middle East shipping routes. Brent crude rose to $97.54 a barrel after briefly reaching $99.46 during morning trading, up from approximately $72 in […] Oil Prices Spike Toward $100 As Saudi-Houthi Strikes Escalate …
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