UNITED STATES – Global oil prices rose as tensions in the Middle East and Hurricane Isaias fuelled fears of supply interruptions. Brent crude surged 4.1% to USD 104.28 per barrel, while West Texas Intermediate (WTI) gained 3.6% to USD 91.49 per barrel. The hurricane’s impact on Gulf of Mexico oil output, combined with persistent shipping difficulties in the Middle East, has raised concerns about limiting global oil supplies, putting additional pressure on energy markets and refinery operations.
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(Source: The Star)