ReportedShipping, energy & marketsLondon, United Kingdom
Brent crude rises above $117 a barrel on fears of renewed U.S. strikes on Iran
- Mountain Time
- Local time
- 5:48 PM in London
- Where
- London, United Kingdom
Brent crude rose about 3.5% and passed $117 a barrel, its highest level since April, as traders reacted to fears that the United States could renew military strikes on Iran.
Why it matters
A move above $117 raises immediate fuel-cost and import-cost pressure for oil-consuming countries and reflects a higher market premium for disruption around the Gulf.
Source
- the Guardiantheguardian.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels