Brent nears $100 as oil prices surge again: Here's why
Photo: The oil market is in turmoil again (Getty Images)
A new escalation in the Middle East has pushed oil prices higher. However, the situation could worsen, as Brent is approaching the psychologically significant $100-per-barrel mark, according to Reuters.
Brent crude futures rose 1.3% to $99.22 per barrel.
US WTI crude rose 1.2% to $94.13.
Analysts note that since the beginning of August, Brent has risen in price by approximately 25%.
Two key factors have contributed to this:
- Escalation of tensions in the Middle East
- Growing risk of disruptions to oil supplies.
On September 8, the conflict escalated even further. This occurred after the Houthis attacked several cities in Saudi Arabia.
Immediately afterward, US troops struck several Iranian oil tankers. In response, Iran attacked a US military base in Jordan and several ships.
According to analysts, these latest events are putting additional pressure on the oil market. The fact is that regional energy infrastructure and key maritime routes have once again come under attack.
Saudi Arabia has partially rerouted its oil exports to bypass the Strait of Hormuz. However, if the attacks on the country continue, it will be more difficult to ensure stable oil supplies to the global market.
Analysts also warn of another consequence of rising oil prices: increased inflationary risks, especially in Asia. Many countries in the region are heavily dependent on imported energy resources.
Experts emphasize that a Brent price of $100 per barrel is not just a psychological threshold, but a signal of potentially serious consequences for the global economy.
US President Donald Trump recently proposed an alternative to the Strait of Hormuz.
Recently, US forces carried out strikes against more than 100 targets in Iran.
