ReportedShipping, energy & marketsGlobal oil markets
Brent trades at $116.56 as Middle East supply concerns support oil prices
- Mountain Time
- Local time
- 6:20 AM UTC
- Where
- Global oil markets
OilPrice.com reported Brent crude trading at $116.56 a barrel and West Texas Intermediate at $103.35. Both benchmarks were heading for another weekly gain and a fourth consecutive monthly gain amid concerns about Middle Eastern supply disruptions, including Houthi attacks on Saudi infrastructure.
Why it matters
Higher crude prices increase purchasing costs for refiners and fuel importers managing disrupted Middle Eastern supplies.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels