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Commodities

Tensions in Middle East Send Brent Crude Prices to Multi-Month High

Guavy AI Editorial Team
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Oil
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Brent crude oil prices surged to their highest level since May 19th this week, reaching $108 per barrel.

The escalation of tensions in the Middle East has sparked concerns about prolonged disruptions to global energy supplies.

Saudi Arabia's crude oil production fell sharply in August 2026 by around 1.9 million barrels a day.

Oil tanker rates have jumped to record highs, adding upward pressure on prices, while US crude inventories fell by 300,000 barrels in the week ended September 4th.

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