Oil Prices Rise to $110 per Barrel
Qiyas summary
Oil prices surge due to Russian and Middle Eastern tensions.
Translated by Qiyas from النهار — Original source
Brent crude touched $110 per barrel for the first time since May, supported by concerns that escalating tensions in the Middle East could further strain supplies, while investors also assessed the volume of diesel supplies that Russia might channel into global markets. Brent crude futures settled at $109.86 per barrel, up $3.94, or 3.7%, marking the highest settlement level since May 19. US West Texas Intermediate crude futures also rose, settling at $101.41 per barrel, up $3.44, or 3.5%, the highest settlement since September 17.
