Crude oil prices top $101/barrel as Iran-US conflict persists in Strait of Hormuz
Crude oil prices rose significantly to above $101 per barrel on Thursday as the United States and Iran sustained attacks on ships in the Strait of Hormuz, Gulf region. An oil market survey showed that Brent and West Texas Intermediate, WTI crude blends rose to $102.30 and $97.52 per barrel, respectively, on Thursday. This means that, on a […] Crude oil prices top $101/barrel as Iran-US conflict…
Crude oil prices surged above $101 per barrel on Thursday as the US and Iran continued their attacks in the Strait of Hormuz, according to an oil market survey. Brent and West Texas Intermediate (WTI) crude blends reached $102.30 and $97.52 per barrel, respectively, marking a 1.05% and 1.53% increase on a day-to-day basis. Iranian officials reported that their country had attacked 10 ships near the Strait of Hormuz, while the US claimed retaliatory attacks, intensifying the ongoing conflict.
US President predicted that the six-month-long war might conclude following the country's midterm elections in November 2026. Nigeria saw fuel pump prices rise significantly to N1,310 to N1,350 per litre, up from N1,210 to N1,275 per litre in recent weeks.
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- Iran-US tensions push crude oil prices above $105 dailytimes.com.pk
