Mexican Crude Oil Prices Surge Amid Global Turmoil

The price of Mexican crude oil blend for export rose by 15.9% in September due to several factors, including attacks on key export infrastructure and disruptions in maritime transport in the Middle East.

The price increase was also driven by stalled negotiations between the US and Iran to reach a ceasefire agreement.

Petroleos Mexicanos (Pemex) reported that at the end of August, the price of a Mexican barrel stood at $81.67, but by September 30, it had risen to $94.64 per barrel, a gain of $13.

This increase reflects rising global prices, with West Texas Intermediate (WTI), Brent, and other Middle Eastern crudes used in pricing formulas showing strong growth in the ninth month of the year.