Oil Rallies Toward $120 As Middle East Supply Risks Spiral
Oil prices extended their rally on Wednesday after reports emerged that the U.S. will tighten its blockade on Iranian ports, prolonging fears of reduced oil supply from the region, and as the UAE hit markets with its OPEC-exit announcement. Brent crude for June delivery jumped 6.45% to trade at $118
ORIGINAL SOURCE →via OilPrice.com
ADVERTISEMENT
⚡ STAY AHEAD
Events like this, convergence-verified across 689 sources, land in your inbox every Sunday. Free.
GET THE SUNDAY BRIEFING →RELATED · IR
- [HEALTH] In the name of immunity, for the sake of the sacred: An analysis of the Iranian government's response to the COVID-19 ou
- [ENERGY] Oil surges nearly $7 as Trump signals prolonged U.S. blockade of Iran
- [ENERGY] US says has redirected over 40 vessels since beginning of naval blockade of Iran
- [ENERGY] Trump says Iran must abandon nuclear ambitions as gas prices surge in US
- [CONFLICT] UN says Iran has executed 21, arrested over 4,000 since war started
- [CONFLICT] Bank of England set to hold rates as Iran war clouds outlook - Global Banking & Finance Review