Dated Brent surges 5% to above $111 as Middle East tensions and Iran’s control over energy flows fuel supply disruption risks.
Oil prices climbed sharply as the closure of the Strait of Hormuz and escalating Middle East tensions drove Dated Brent above $111. The 5% daily gain reflects concerns over prolonged disruptions to global energy supplies.
Prior sessions saw steady upward pressure, with markets reacting to Iran’s influence over the strait and limited signs of reopening. China’s diversification of oil imports may mitigate its exposure but could reduce Iran’s revenue from energy exports.
No immediate market reaction data was provided, though the upward trend is expected to persist amid ongoing geopolitical risks.