Oil prices rose for the third day in a row today due to concerns about supply disruptions in the Middle East due to the escalating conflict between the US, Israel and Iran, as well as threats to target shipping in the Strait of Hormuz.
Brent crude oil futures rose 3.3% to $80.39 a barrel, having risen to $82.37 in the previous session, the highest since January 2025, but pared that gain by settlement, rising 6.7%.
highest level
US West Texas Intermediate crude oil rose 2.8% to $73.23 per barrel. A day earlier, Amazigh crude initially rose to its highest level since June 2025, but fell at settlement, rising 6.3%.
Oil prices rose for the third day in a row today as the escalating conflict between the US, Israel and Iran and threats to maritime navigation in the Strait of Hormuz heightened concerns about potential supply disruptions in the Middle East.
Brent crude oil futures rose 3.3% to $80.39 per barrel. In the previous session, oil prices hit $82.37, the highest since January 2025, but pared back that increase at settlement, rising 6.7%.
highest level
West Texas Intermediate (WTI) crude oil rose 2.8% to $73.23 per barrel. The day before, U.S. crude oil prices initially rose to the highest level since June 2025, but by the time of settlement, they had rebounded and rose 6.3%.
