The price of oil reached 110 dollars per barrel

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.

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.

According to Ambassador Arjan, quoted by Reuters, the price of Brent crude oil reached the threshold of $110 per barrel for the first time since May, due to the spread of concerns 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.

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 increased by $3.44 or 3.5% to $101.41 per barrel, which is the highest level since September 17.