Oil Surges 6% After New Tanker Attacks in Middle East | Honolulu Star-Advertiser
Tanker attacks and tighter supplies pushed Brent and West Texas Intermediate above $100, as traders weighed further disruption risk in the Middle East.
- Oil prices jumped 6% today, with Brent and West Texas Intermediate trading above $100 a barrel as the largest spike in shipping attacks since the Iran war began fueled supply disruption fears.
- Iran-Aligned Houthis seized control of Yemen's port of Mocha today, posing a further threat to Red Sea traffic, while Gulf shipments remain restricted through the Strait as tanker attacks intensify.
- Following strikes on five Iranian Oil tankers, Iran reported attacking 10 ships near the Strait on Wednesday, while the Islamic Revolutionary Guard Corps threatened to escalate its response to further aggression.
- OPEC lowered its 2026 world Oil demand growth forecast to 380,000 barrels per day today, while the Energy Information Administration reported crude inventories fell by 391,000 barrels last week.
- Analysts suggest the rally's durability hinges on Chinese demand, which has recently increased, while a new Global Energy analysis indicates disruption risks have become a persistent market fixture.
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Oil prices jumped by more than 6% today Thursday, surpassing the $100 per barrel barrier, amid fears of worsening crude supply disruptions as attacks on freight traffic escalated in the Middle East.
(New York = Yonhap News) Correspondent Lim Soo-jung = As armed conflicts in the Middle East spread, following Brent crude, West Texas Intermediate (WTI) also... per barrel on the 10th (local time)
Oil surges 6% after new tanker attacks in Middle East | Honolulu Star-Advertiser
NEW YORK >> Oil prices jumped 6% today, with both major benchmarks trading at over $100 a barrel as the biggest spike in attacks on shipping since the Iran war began fed worries among traders about further disruptions to already tight supplies.
Times of India
BizTocOil surges 5%, Brent and US crude both over $100 on more tanker attacks
Oil prices jumped 5% to above $100 a barrel as escalating US-Iran fighting and attacks on tankers raised fears of wider supply disruptions. Brent hit $106.60 while WTI crossed $100. Rising Chinese demand and tighter OPEC output are adding to market pressure, keeping traders focused on the risk of further supply shocks.
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