ReportedShipping, energy & marketsPersian Gulf
Brent holds above $102 as Gulf oil-export rebound offsets U.S. force moves
- Mountain Time
- Local time
- 5:06 AM UTC, Oct 2
- Where
- Persian Gulf
Brent crude traded at $102.24 a barrel while West Texas Intermediate traded at $92.62, as a rebound in Persian Gulf oil exports outweighed market concern about additional U.S. military movements and China’s halt to refined-fuel exports.
Why it matters
Oil above $100 raises fuel-import costs for governments and refiners while markets assess whether Gulf export recovery can continue despite risks to Hormuz traffic.
Source
- OilPrice.comoilprice.comPublished
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