Egypt and global economy brief
Brent Crude Rises Above $100 As Middle East Tensions Escalate
✦Key takeaways
- Brent crude rose above $100 a barrel Wednesday for the first time since July, as escalating Middle East tensions heightened concerns over disruptions to regional oil supplies.Oil prices surgeThe benchmark was up about 25% from early August as the US-Iran conflict and attacks by Iran-backed Houthis on Saudi energy facilities raised concerns over oil flows from the region.As of 12:36 p.m.
- AST Arabia, Brent crude was up 2.66% to $100.52 per barrel, while West Texas Intermediate (WTI) crude rose 2.14% to $95.02 per bar
About this coverage
RE provides a concise attributed brief to help you follow important developments. The original reporting and full details remain with the publisher.