Jazan Refinery Strike Sends Oil Prices Soaring to Multi-Month Highs

A strike on Saudi Aramco's Jazan refinery has pushed crude benchmarks to multi-month highs, with WTI reaching $92.43 and Brent climbing to $97.07 per barrel.

The reported strike and looming shipping risks in the Strait of Hormuz have escalated supply concerns, with Iran threatening to declare an exclusion zone that would disrupt 20% of global oil flows.

In India, the Indian Basket Crude Price has risen to $99.35 per barrel, a 21.1% increase from its July baseline average and nearing triple digits.