US crude jumps more than 4%... Brent surpasses $111 per barrel
Rise in US crude and Brent prices due to geopolitical fears and attacks in the Gulf.
Translated by Qiyas from السياسة — Original source
Oil prices rose on Tuesday, with U.S. crude climbing more than 4% to approach $108 per barrel, while Brent crude surpassed $111 per barrel, marking its highest level in five months.
Reuters attributed the price surge to escalating geopolitical tensions in the region following Houthi attacks on targets in Saudi Arabia, alongside reports of ships being attacked in the Gulf, which heightened concerns about energy supply security.
The agency added that Brent crude reached $111.05 per barrel during trading, its highest level since May, while U.S. crude hit $104.94 per barrel. It also noted that traders are awaiting U.S. oil inventory data, amid expectations of a decline in inventories last week.
