Crude Brent stays above $114

Oil prices rose significantly today, Friday, with Brent crude surpassing $114 per barrel and U.S. West Texas Intermediate exceeding $100. This increase comes amid concerns over escalating tensions in the Gulf following Houthi attacks on Saudi Arabia. Geopolitical risks, including hints from Saudi Arabia and Iran of increased support for confrontations, have boosted the risk premium in the market. Additionally, reports indicated that Saudi Aramco has evacuated its headquarters and that there have been aerial attacks on the southern region, threatening the stability of oil supplies. This situation is further complicated by a possible reduction in Libyan production due to pipeline closures. If these attacks or the escalation continue, prices are expected to rise further, with risks of global oil supply disruptions becoming more apparent.

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