Commodities
Trump Threatens Iran as Crude Oil Prices Soar Past $100
US President Donald Trump has vowed to punish Iran for recent attacks by Houthi forces in the Red Sea. This move comes as crude oil prices surge, with Brent Crude Oil breaking through $100 a barrel for the first time since May.
The West Texas Intermediate (WTI) is up 5.65% on the day at $90.77. Brent Crude Oil's price increase may be attributed to various factors, including global growth and supply and demand imbalances.
As a benchmark for international oil prices, Brent Crude Oil serves as a reference point for approximately two-thirds of the world's internationally traded oil supplies.