Today, Thursday, oil prices in global markets saw a significant rise, increasing by nearly 4%.
This increase is attributed to fears and concerns over disruptions to oil supplies in the Middle East, due to increased attacks on vessels in the Gulf and the Strait of Hormuz, coinciding with a reduction in oil production in the United States because of a hurricane that has created a threat to offshore fields.
By 09:00 a.m. Greenwich Mean Time, Brent crude oil futures had risen by 4.14 dollars to reach 102.28 dollars per barrel, representing an increase of 4.13%.
Likewise, US West Texas Intermediate (WTI) crude oil futures rose by 3.71 dollars to reach 91.99 dollars, representing an increase of 4.2% in its price.
