The flare-up of tensions made oil expensive / Brent reached $110

Brent oil reached the threshold of $110 following the escalation of concerns about supply disruptions in the Middle East.

Ambassador Arjan: Brent oil reached the threshold of $110 following the intensification of concerns about supply disruption in the Middle East.

With the expansion of tensions in the Middle East and increasing pressure on international waterways, the global price of Brent oil reached the limit of $110 per barrel.

The price of Brent crude oil reached the threshold of $110 per barrel for the first time since May, as concerns spread about the escalation of tensions in the Middle East, which will lead to more pressure on supply.

Meanwhile, investors are still evaluating the volume of diesel products that Russia may be able to supply to global markets.

Be sure to read: Strait of Hormuz took the pulse of the global oil market / Brent traded in the range of $105, oil under the shadow of war / Brent jumped by 3%

In this regard, Brent crude oil futures increased by $3.94 or 3.7% to $109.86 per barrel, which is the highest level since May 19. Also, US West Texas Intermediate crude oil futures rose by $3.44 or 3.5% to $101.41 per barrel, which is the highest level since September 17.