Oil price again exceeds 100 dollars due to Middle East war
Iran launched a new wave of attacks on the oil infrastructure of Gulf countries this Thursday. Photo: iStock
TL;DR
- Oil prices exceeded $100 per barrel for the thirteenth day of the Middle East war.
- Brent crude rose to $96.88 and WTI to $91.31, despite a record release of 400 million barrels from strategic reserves.
- Iran launched new attacks on oil infrastructure in Gulf countries after previously targeting two oil tankers.
- The war has become regional, threatening global oil supply by paralyzing traffic in the Strait of Hormuz.
- Gulf countries have reduced oil production by at least 10 million barrels daily due to the Hormuz blockade, described as the 'biggest supply disruption' in history.