Oil Prices Surge to Four-Month Highs as War Risks Mount
Crude oil prices extended their climb this week, reaching the highest since May as hostilities in the Gulf continue and the prospect of peace gets even more remote. At the time of writing, Brent crude was trading at $107.86 per barrel, and West Texas Intermediate was changing hands for $102.28 per b
Source: OilPrice.com
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DW NOTE
WTI at $100.60 and Brent at $105.20 are not four-month highs — they are both down roughly 10% from their recent peaks and have fallen sharply in the last hour alone. The Strait of Hormuz has been effectively closed since early September despite a June ceasefire, but inventories are still draining at 3 million barrels per day this quarter. War risk is not mounting; it already mounted and the market is now watching whether mine-clearing finishes on schedule.