NewzGlobal benchmark Brent crude has crossed $101 per barrel, while West Texas Intermediate (WTI) reached $90.38 per barrel. The price increases, which exceed 1%, are driven by mounting concerns over tightening global oil supplies.
These supply anxieties are compounded by multiple concurrent factors, including recent attacks in Saudi Arabia and potential storm disruptions threatening U.S. oil production facilities and refineries. Additionally, the market is reacting to mixed signals regarding U.S. crude inventories.
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