ReportedShipping, energy & marketsGlobal oil markets
Brent tops $110 as traders price in Persian Gulf supply disruption
- Mountain Time
- Local time
- 4:56 AM UTC, Oct 20
- Where
- Global oil markets
OilPrice.com reported that Brent crude exceeded $110 a barrel and WTI exceeded $100 during October 20 trading. At the time of writing, prices had retreated to $109.68 and $98.55 respectively. Brent was trading at its highest level in five months as traders assessed disrupted oil flows through the Strait of Hormuz.
Why it matters
Higher crude prices increase feedstock costs for refiners and the potential for higher fuel bills for importers.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels