5 results for “brent crude”
Brent crude climbed to its highest level since May after attacks on tankers near the Strait of Hormuz sparked renewed supply disruption concerns in global oil markets.
Brent crude jumped 3.7% to $109.86 a barrel after tankers were hit by mines in the Strait of Hormuz, the highest level since mid-May, prompting emergency supply measures from the IEA and the United States.
A broad selloff in technology shares dragged the Nasdaq to its worst week since late June, while Brent crude surged on Middle East supply risks.
Brent slipped toward $104 and WTI to about $94 as supply-route fears eased, a move with direct consequences for Nigeria's budget and FX earnings.
Brent crude rose to about $107 a barrel as Middle East attacks threatened supply through the Strait of Hormuz, a windfall and a cost for Nigeria.