Oil volatility increases: it reversed its losses and surpassed $106 amid attacks from Iran, the Houthi rebels, and Russia
World1 source1 country🔦 Under-reported47m ago
Oil prices experienced increased volatility on Monday as the Brent benchmark surpassed 106 dollars per barrel, reversing earlier losses from the opening session. The market surge was driven by geopolitical tensions and security warnings involving Iran, particularly concerning the Strait of Ormuz, alongside ongoing attacks by Houthi rebels and actions by Russia, as well as prior disruptions to Saudi petroleum infrastructure and US refineries affected by a hurricane.
Amid this international volatility and supply pressure, governments in the region are managing local impacts. Notably, the government of El Salvador announced it will keep domestic fuel prices unchanged through October 26 for the second fortnight of the month, insulating consumers temporarily from the fluctuating global energy costs.
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Infobae (Buenos Aires, Argentina) (AR): El Salvador mantiene sin cambios los precios de los combustibles hasta el 26 de octubreFocuses on the domestic economic impact and government price freezing in El Salvador.
Infobae (Buenos Aires, Argentina) (AR): Crece la volatilidad del petróleo: revirtió sus pérdidas y superó los USD 106 en medio de ataques de Irán, los rebeldes hutíes y RusiaEmphasizes global market volatility and geopolitical threats affecting international crude prices.
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