Brent Crude Surpasses $90 Amid Regional Tensions and Shipping Disruptions
According to the International Desk of Webangah News Agency, Brent crude oil prices have climbed by three percent, surpassing the $90 mark to reach $90.74 per barrel. This price increase is attributed to ongoing regional tensions and the disruption of maritime traffic in the Strait of Hormuz.
Previously, informed sources told Reuters that Yemen’s Ansarullah forces are preparing to close the Bab el-Mandeb Strait amidst escalating regional tensions. The Bab el-Mandeb Strait serves as the gateway to the Red Sea, with approximately seven percent of the world’s crude oil transiting through it.
Concerns over persistent instability in the oil and gas sector are fueling price hikes in global markets. Analysts have warned that this trend could potentially push crude oil prices beyond $100 per barrel.
