ReportedShipping, energy & marketsGlobal oil markets
Brent and WTI rise more than 1% as traders weigh Middle East supply disruption
- Mountain Time
- Local time
- 5:11 AM UTC, Oct 21
- Where
- Global oil markets
Brent crude traded at $110.30 a barrel and West Texas Intermediate at $99.12, both up more than 1% from Tuesday, OilPrice.com reported. Concerns over Middle East oil flows and an estimated draw in U.S. crude inventories supported the gains despite reports of recovering Gulf exports.
Why it matters
The fresh daily increase raises crude acquisition costs for refiners despite signs that regional export volumes are recovering.
Source
- OilPrice.comoilprice.comPublished
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