Oil Prices Surge Above $105 Amid Middle East Shipping Attacks
Macro·2 articles across 2 outlets
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Brent crude topped $105 a barrel as attacks on ships around the Strait of Hormuz intensified amid escalating violence between Saudi Arabia and the Houthi militia. The situation has also led to a sell-off in bond markets, putting pressure on the euro, which is nearing a 17-month low.
Reports indicate that U.S. Gulf Coast operators are shutting in production and preparing refineries ahead of storm Isaias, further contributing to the rise in oil prices. Brent crude jumped 5% today as Iranian attacks on tankers in Hormuz increased, causing significant market reactions.
IranSaudi ArabiaHouthi militia
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“Brent crude tops $105 a barrel amid attacks on tankers and squeeze on US oil output in Gulf of Mexico as storm Isaias approaches”
The Guardian — Oil and gas prices jump on Middle East shipping attacks, sending bond yields higher and stocks lower – business live“Attacks on ships around the Strait of Hormuz have continued as a war between Saudi Arabia and the Houthi militia intensified.”
ny times — Oil Prices Jump on Outburst of Violence in the Middle East“Brent crude swung back above $105 per barrel today as reports flow in about increasingly frequent Iranian attacks on tankers in Hormuz while U.S. Gulf Coast operators began shutting in production and prepping refineries ahead of an approaching storm.”
oilprice — Oil Jumps 5% as Iran Steps Up Attacks on Hormuz Tankers