Oil Prices Climb Above $110 as Middle East Supply Fears Persist
Crude oil prices ticked higher earlier today, extending gains from Tuesday as traders continued to worry about the stability of flows out of the Middle East. At the time of writing, Brent crude was trading at $110.30 per barrel, with West Texas Intermediate at $99.12 per barrel, both up by over 1% f
Source: OilPrice.com
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DW NOTE
Brent is at $110.30 in the story, not $108.77 from this morning's briefing. The Strait of Hormuz has been effectively shut for days, yet oil has managed only 78% year-on-year — less than you'd expect if traders believed 20% of global supply was genuinely at risk of disappearing for months.