Brent Breaks $100 for the First Time in Nearly Two Months
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon. As of early morning trade in Europe on Wednesday, the international benchmark, Brent Crude, jumped by 2.2
Source: OilPrice.com
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DW NOTE
Brent at $100 is still 18% below its peak earlier this year, when the Strait of Hormuz first closed and crude spiked. The headline reads like a breakout; the context is a market that has given back nearly a fifth of its gains since February despite twenty percent of global oil supply still choked off at Hormuz.