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Oil Prices Top $100 as Strait of Hormuz Crisis Escalates
Oil prices went above $100 per barrel again.
Brent crude reached $101.80 on Thursday.
Another oil type, called West Texas Intermediate, reached $96.55.
Both prices also rose sharply on Wednesday.
Brent gained $3.29 that day.
West Texas Intermediate gained $3.02.
The article links the rally to a crisis involving the Strait of Hormuz.
Higher oil prices can signal a fresh shock in energy markets.
Brent crude futures rose 0.2% to $101.80 a barrel on Thursday.
U.S. West Texas Intermediate crude gained 0.5% to $96.55 a barrel.
Brent had settled 3.4% higher at $101.21 on Wednesday.
West Texas Intermediate rose 3.25% to close at $96.05 on Wednesday.
The gains followed a strong rally linked to the Strait of Hormuz crisis.
- Who
- Brent crude futures and U.S. West Texas Intermediate crude.
- What
- Oil prices rose again, with Brent moving above $100 per barrel.
- Where
- The article does not specify a location for the trading.
- When
- Thursday, following a strong rally on Wednesday.
- Why
- The article attributes the gains to a crisis involving the Strait of Hormuz.
Key facts
- Brent Thursday price
- $101.80 a barrel
- Brent Thursday move
- Up 0.2%
- WTI Thursday price
- $96.55 a barrel
- WTI Thursday move
- Up 0.5%
- Brent Wednesday close
- $101.21 a barrel, up $3.29 or 3.4%
- WTI Wednesday close
- $96.05 a barrel, up $3.02 or 3.25%
- Market trigger
- A crisis involving the Strait of Hormuz
Sources
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