Oil Prices Rise Amid Concerns Over Middle East Supplies
Oil prices rose by more than a dollar on Wednesday, amid concerns about supplies from the Middle East amid regional escalation.
Brent crude futures rose by $1.59, or 1.5%, to $110.38. U.S. West Texas Intermediate crude increased by $1.36, or 1.4%, to $99.18 a barrel.
This comes despite confirmation that oil exports from the Gulf have risen above pre-war levels, according to data from Kpler, as reported by the Wall Street Journal.
The newspaper stated that oil flows from the Middle East reached more than 24 million barrels per day over the past week, while oil flows through the Strait of Hormuz were about 14 million barrels per day during the same period.
The world is anticipating a return of military confrontations between Iran and the United States with Israeli assistance, and the potential resumption of military operations against Iranian nuclear and military facilities.
المصدر: Open sources
