Brent tops $116 as Middle East attacks rattle global markets
Brent tops $116 as Middle East attacks rattle global markets
Oil prices surge on Middle East tensions, with Brent above $116 as energy assets come under fire; Fed stays steady amid war-time uncertainty.
Oil prices jumped on Thursday as attacks on energy facilities across the Middle East stoked supply concerns and sent traders scrambling for hedges. Brent crude rose to above $116 a barrel, marking one of the sharpest moves in recent weeks, while U.S. WTI traded higher on the day. The move came after intensified regional clashes and strikes reported across key energy hubs, including a strike on Iran's South Pars gas field and retaliatory actions in places like Ras Laffan, Yanbu, and other energy nodes. The renewed violence underscored the risk that supply disruptions could endure beyond a single trading session, keeping markets on edge.
