Brent crude oil prices hit $110 for first time since May as Iran attacks continue, Ukraine eyes Russia energy infra
Brent crude surpassed $110 per barrel as escalating attacks around the Strait of Hormuz and renewed Russia-Ukraine hostilities heightened global supply concerns. WTI also surged, recording weekly gains above 10%. Goldman Sachs warned prices could reach $120 if shipping disruptions worsen, while easing tensions could bring crude towards $80.
Key Takeaways
- Brent crude surpassed $110 per barrel as escalating attacks around the Strait of Hormuz and renewed Russia-Ukraine hostilities heightened global supply concerns.
- WTI also surged, recording weekly gains above 10%.
- Goldman Sachs warned prices could reach $120 if shipping disruptions worsen, while easing tensions could bring crude towards $80.
Brent crude surpassed $110 per barrel as escalating attacks around the Strait of Hormuz and renewed Russia-Ukraine hostilities heightened global supply concerns. WTI also surged, recording weekly gains above 10%. Goldman Sachs warned prices could reach $120 if shipping disruptions worsen, while easing tensions could bring crude towards $80.
Original Publisher Attribution
This summary was curated from Economic Times.