ReportedShipping, energy & marketsGlobal oil markets
Brent rebounds to $98.01 a barrel after the midweek selloff
- Mountain Time
- Local time
- 7:30 PM UTC
- Where
- Global oil markets
Brent crude rose $3.39, or 3.58%, to $98.01 a barrel on Thursday afternoon, while WTI rose $2.21 to $90.33, as traders reassessed expectations for a rapid end to the Iran war.
Why it matters
The rebound raises near-term fuel-cost and shipping-cost exposure after traders had priced in a quicker diplomatic resolution and lower risk to Middle East supply routes.
Source
- OilPrice.comoilprice.comPublished
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