Brent crude surged past $105 per barrel, reaching a one-month peak as traders weigh supply disruptions in the Strait of Hormuz against potential hurricane-related production losses.
Brent crude experienced a significant price spike, briefly exceeding the USD 105 per barrel threshold, marking its highest valuation in nearly a month. This upward momentum was primarily fueled by geopolitical tensions affecting traffic through the Strait of Hormuz and supply-side anxieties stemming from hurricane activity.
Brent crude briefly surged above USD 105 per barrel.
The increase was driven by reduced traffic in the Strait of Hormuz and concerns regarding hurricane-related supply disruptions.
Brent crude prices climbed above the $105 per barrel threshold, marking a one-month high for the global benchmark. The rally stems from heightened geopolitical risks in the Strait of Hormuz and supply chain fears linked to active hurricane activity.
The price increase was triggered by a combination of reduced traffic through the Strait of Hormuz and supply concerns caused by hurricane activity.