Energy Preview: Brent holds above $100 per barrel mark

Brent crude oil breached $100 per barrel mark for the first time in over six weeks yesterday and briefly touched 101 amid escalating tensions between US and Iran. Intensifying conflict between the United States and Iran raises serious concerns over potential disruptions to energy supplies from the Middle East. Iran reportedly stated that it is ready for a more intense conflict, vowing to resist the US naval blockade and warning that it will step up attacks if American forces continue their strikes on Iranian territory. WTI futures are currently quoting at $96.07 per barrel while Brent is holding at $100.96, per barrel, after an over 3% surge yesterday.

Powered by Commodity Insights