Commodities
Brent Crude Holds Above $104 as Middle East Conflict Concerns Weigh on Prices
Oil prices declined by over two dollars on September 17, but Brent crude futures managed to stay above the $100 level due to concerns about the escalating conflict in the Middle East.
Brent crude touched $103.62, while US crude fell to $100.39 after both ended trading on Wednesday at a loss of around $3 per barrel.
DBS Bank's Head of Energy Research, Suvro Sarkar, warned that if attacks in the Strait of Hormuz continue, prices could surge to levels above $120 per barrel.