Oil rises over 5% on supply risks
Oil prices rose by more than 5% due to escalating attacks on oil tankers in the Gulf and the Strait of Hormuz, fueling fears of supply disruptions. Additionally, a partial shutdown of U.S. oil production in the Gulf of Mexico caused by Hurricane Esiás increased pressure on the supply. Brent crude reached $105.20 per barrel, the highest since September 29, while West Texas Intermediate surpassed $92.75, the highest since early October. Warnings have been issued about the potential continuation of market volatility due to military escalation and the hurricane.
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