Brent crude hits five-month high above $114 amid Middle East supply fears
Briefing by News4U · First published
Brent crude rose to a five-month high above $114 a barrel after Houthi attacks on Saudi energy infrastructure and renewed U.S.-Iran tensions.
Brent crude futures rose 79 cents to $113.96 a barrel, reaching an intraday high of $114.72, the highest level since May 4, after Houthi attacks on Saudi energy infrastructure and renewed U.S.-Iran tensions. [1] [2] [3]
Saudi Aramco ordered the evacuation of its Dhahran headquarters as clashes intensified between the Houthis and a Saudi-led coalition near the Bab el-Mandeb shipping chokepoint. [3]
Brent is on track for a third consecutive weekly gain of almost 4%, while WTI rose 1.1% to $100.57 and is set to finish 0.8% down on the week. [3]
Sources
- Oil hits $117 for first time since April on fears of flare-up in Iran hostilities
FT Markets · · Summary only
- Oil Prices Rise as Middle East Risks Persist
WSJ Business · · Summary only
- Brent crude hits more than five-month high on war concern
RTÉ Business · · Full text