Brent Crude Price Rises Above $99 Per Barrel for 1st Time Since May 22 — Trading Data
Oil drum graveyard. File photo.
MOSCOW, (Sputnik) — Global oil prices are rising, with the price of a barrel of Brent crude reaching above $99 for the first time since May22, trading data showed on Thursday. As of 11:59 GMT, the price of September Brent crude futures was up 5.26% to $99.02 per barrel. Minutes earlier, the figure exceeded the $99 mark for the first time since June 22.September WTI futures were up 4.87% to $91.06 per barrel.The rising prices come amid heightened tensions in the Strait of Hormuz, with US Central Command striking Iran for 12 consecutive days, prompting a strong response from Tehran and affecting the entire region.US President Donald Trump continued to exacerbate tensions, saying that “any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy one bridge or power plant, including those located next to, or in, the capital city of Tehran.”
