Brent crude surpasses $97 amid supply concerns
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Crude oil prices continued to climb today, Sept. 7, following an exchange of military strikes between the US and Iran that targeted ships and oil tankers in the Strait of Hormuz, raising concerns in global energy markets about a long-term disruption to Middle East supplies.
The US Central Command reported that its forces targeted three Iranian oil tankers, while the Iranian Revolutionary Guard Corps Navy announced that it had targeted three US ships in separate areas, Reuters reported.
Meanwhile, the OPEC+ decided at its meeting on Sunday to keep its oil production policy unchanged for October.
This comes after Brent crude rose by nearly 7.8% last week, and US crude climbed by about 10%, after the US and Iran resumed their attacks, according to Reuters.
|
Brent, WTI Futures Prices |
|||
|
Crude |
Price ($/bbl) |
Change ($) |
Change |
|
Brent (November delivery) |
97.33 |
1.05 |
1.10% |
|
WTI (October delivery) |
92.48 |
1.00 |
1.10% |
*At 07:49 am Makkah time
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