Oil prices rise amid concerns over Middle East supplies; Brent reaches $110
Baghdad /NINA/ – Oil prices rose on Wednesday amid concerns regarding supplies from the Middle East, as traders expressed caution over risks to shipping in the Red Sea and threats to oil infrastructure in the region.
Brent crude futures climbed by $1.21 to $110 per barrel, while U.S. West Texas Intermediate (WTI) crude rose by more than a dollar to $99 per barrel.
Iranian media, citing the Islamic Revolutionary Guard Corps (IRGC) Navy, reported on Tuesday that a supertanker caught fire after striking a naval mine south of the Strait of Hormuz, allegedly while "violating" Iranian regulations.
Market sources, citing data from the American Petroleum Institute (API), reported on Tuesday that U.S. inventories of crude oil, distillates, and gasoline declined over the past week.
The sources, who requested anonymity, indicated that crude oil stocks fell by 4.9 million barrels, while gasoline inventories dropped by approximately 2 million barrels, and distillate stocks decreased by about 2.6 million barrels compared to the previous week. / End
ليصلك المزيد من الأخبار اشترك بقناتنا على التليغرام
Brent crude futures climbed by $1.21 to $110 per barrel, while U.S. West Texas Intermediate (WTI) crude rose by more than a dollar to $99 per barrel.
Iranian media, citing the Islamic Revolutionary Guard Corps (IRGC) Navy, reported on Tuesday that a supertanker caught fire after striking a naval mine south of the Strait of Hormuz, allegedly while "violating" Iranian regulations.
Market sources, citing data from the American Petroleum Institute (API), reported on Tuesday that U.S. inventories of crude oil, distillates, and gasoline declined over the past week.
The sources, who requested anonymity, indicated that crude oil stocks fell by 4.9 million barrels, while gasoline inventories dropped by approximately 2 million barrels, and distillate stocks decreased by about 2.6 million barrels compared to the previous week. / End
ليصلك المزيد من الأخبار اشترك بقناتنا على التليغرام
