ReportedShipping, energy & marketsGlobal oil markets
Brent rebounds to $103.60 as traders refocus on Middle East supply constraints
- Mountain Time
- Local time
- 6:15 AM UTC, Nov 4
- Where
- Global oil markets
OilPrice.com reported that crude prices rebounded on Wednesday after falling to four-week lows. Brent traded at $103.60 a barrel and West Texas Intermediate at $95.98 as traders shifted attention from U.S. midterm elections to the Iran war and constrained Persian Gulf exports.
Why it matters
The rebound raises benchmark crude costs after Tuesday’s sharp decline, limiting immediate price relief for oil buyers counting on a diplomatic reopening of Gulf supply routes.
Source
- OilPrice.comoilprice.comPublished
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