🛢️ Brent crude settled at $101.21 a barrel on 9 September…
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🛢️ Brent crude settled at $101.21 a barrel on 9 September, its first close above $100 since July, after attacks affected Middle East oil facilities and shipping.
The jump followed escalating fighting involving Iran, the United States and Saudi Arabia. The Guardian reported that Brent rose more than 3% as tensions in the Gulf heightened concern about further supply disruption. 🚢
Brent is a major international oil benchmark, so a sustained rise can feed into transport, refinery and fuel costs. The move has also renewed concerns about inflation and interest rates.
Attention now turns to whether conflict-related disruption to production and shipping persists. Recent oil-market reporting has shown that tanker flows, inventories and demand conditions can all rapidly change the benchmark’s direction.
https://nutanica.com/Brent_crude
The jump followed escalating fighting involving Iran, the United States and Saudi Arabia. The Guardian reported that Brent rose more than 3% as tensions in the Gulf heightened concern about further supply disruption. 🚢
Brent is a major international oil benchmark, so a sustained rise can feed into transport, refinery and fuel costs. The move has also renewed concerns about inflation and interest rates.
Attention now turns to whether conflict-related disruption to production and shipping persists. Recent oil-market reporting has shown that tanker flows, inventories and demand conditions can all rapidly change the benchmark’s direction.
https://nutanica.com/Brent_crude
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