ReportedShipping, energy & marketsGlobal oil market
Brent crude reaches $112 a barrel, a five-month high
- Mountain Time
- Local time
- 12:28 PM in London
- Where
- Global oil market
Brent crude rose 3% to $112 a barrel, its highest level since May 18, as attacks affecting Saudi Arabia and vessels near the Strait of Hormuz raised concerns about further supply disruption.
Why it matters
The move raises fuel-import costs and can prompt refiners, airlines and governments to reassess near-term fuel purchasing and emergency-stock decisions.
Source
- The Guardiantheguardian.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels