Oil Prices Rise 2% as Houthi Missiles Add to Supply Fears
Brent crude climbed to $101.09 a barrel as the attack renewed supply fears and traders watched US-Iran talks over the Strait of Hormuz.
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(New York = Yonhap News) Correspondent Lim Soo-jung = International oil prices on the 24th (local time) due to disruptions in crude oil supply in the Middle East caused by the missile attack on Saudi Arabia by Yemen's Houthi rebels...
Oil prices rise 2% as Houthi missiles add to supply fears
NEW YORK, Sept 24 : Oil prices rose about 2 per cent on Thursday after a Houthi missile attack on Saudi Arabia revived supply disruption fears, but pared earlier gains on reports the US and Iran discussed reopening the Strait of Hormuz. Brent futures rose $2.04, or 2.0 per cent, to $105.12 a barrel at 12:29�
Crude prices rise nearly 2% amid choppy trade
Oil prices saw an increase of almost 2% in a volatile market influenced by geopolitical tensions. Traders reacted to Iranian President Masoud Pezeshkian's assurance of Iran's resilience amidst ongoing negotiations. Brent crude futures surged by $1.84, reaching $101.09 by evening, while West Texas Intermediate prices also rose. Discussions included the potential reopening of the Strait of Hormuz amid conflicting statements from Iranian officials.
Oil prices have risen by about 2% today, amid volatile trades, driven by concerns about energy supplies and potential traffic disruption in the Middle East. Reuters reported that future contracts for Brent's ore rose by $1.85% to $101.09 per barrel, while future contracts for West Texas American middleman increased by 69 cents, or 0.76%, [...]
The bond market faced renewed pressure on Thursday, with the yield on 30-year U.S. Treasury bonds surging to its highest level in over 20 years.
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