Brent Hits $114 as Houthi Attacks Threaten Saudi Energy Infrastructure
Crude oil prices were on course to book a sharp weekly gain, with Brent crude on track for gains of about $6 per barrel and WTI registering a much more modest tick higher, from around $99 per barrel on Monday to over $100 earlier today. At the time of writing, Brent crude was trading at $114.00 per
Source: OilPrice.com
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DW NOTE
The Strait of Hormuz has been effectively closed since October 18. Brent at $114 is not a reaction to a threat — it is the market pricing the fact that 20% of global oil supply is already cut off. This is not a headline move; it is Day 5 of a supply shock.