Brent crude up by more than 3% after latest fire between US and Iran in Gulf and Houthi attacks on Saudi cities

The price of oil has risen above $100 a barrel for the first time since July as the escalating conflict in the Middle East threatens further disruption to global supplies.

Brent crude, the international benchmark for oil prices, rose 2.7% to about $100.6 after tensions increased in the Gulf amid the latest tit-for-tat exchange of fire between the US and Iran.

UK and mainland Europe gas prices also soared on Wednesday. The benchmark Dutch gas contract rose by almost 4% to €78.73 a megawatt hour, the highest since January 2023. Meanwhile, the British contract rose by 7.77p to 196.57p a therm, the highest since December 2022.

  • WraithGear@lemmy.worldEnglish
    7·
    2 days ago

    i feel that the language in the title is not trying to be honest. like “like never seen before…. 4 weeks ago”. it would have been more honest if it said “oil price per barrel over $100 again”