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Commodities

Crude Oil Price Surpasses $100 per Barrel Amid Middle East Tensions

Guavy AI Editorial Team
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Oil
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The global benchmark for crude oil prices, Brent, surpassed $100 per barrel on Thursday, September 10. This significant milestone was largely driven by escalating tensions in the Middle East and growing concerns over supply disruptions.

Brent crude rose 0.1% to $101.34 a barrel, while its US counterpart, West Texas Intermediate (WTI), gained 0.5% to $96.55.

The US Energy Information Administration (EIA) has raised its oil price forecasts for the current year and next, citing concerns over Middle Eastern supply disruptions.

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