Brent Oil Climbs Toward $100 With Hormuz Constrained

Brent crude oil approached $100 per barrel following reports that Saudi Arabia suspended operations at several southern energy facilities after attacks. Vitol Group, an oil trading company, estimated that oil flows through the Strait of Hormuz have declined to approximately half of pre-conflict levels, though the company stated an exact figure is difficult to determine. Bloomberg reported the developments on commodity markets.

Next story