DistantNews
Support us
🇵🇾 Paraguay /Energy & Infrastructure

Brent crude tops $96 and ends week higher amid US-Iran tensions

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire From a news agency Ongoing story
  • Brent crude rose 0.80% to $96.28 a barrel in London on Friday, ending the week higher.
  • The benchmark has gained 7.80% from the previous week’s close below $90, as renewed US-Iran tensions fueled concerns about possible supply disruptions in the Middle East.
  • The conflict has also affected oil prices through the sustained closure of the Strait of Hormuz, a route carrying 20% of global crude flows, with Brent previously nearing $120 a barrel.

Brent crude closed above $96 a barrel on Friday, extending a weekly rise driven by renewed tensions between the United States and Iran.

The North Sea benchmark for November delivery gained 0.80%, or 76 cents, to settle at $96.28 on London’s Intercontinental Exchange. It had closed at $95.52 in the previous session.

Brent ended the week 7.80% higher after closing below $90 the week before. The latest escalation in attacks between the United States and Iran has raised market fears that the conflict could trigger further interruptions to oil supplies in the Middle East.

A war

· JD VanceThe US vice president said he would not describe the conflict with Iran this way.

US Vice President JD Vance played down the scale of the conflict on Friday. He said he would not call it “a war” because “there is no exchange of fire” at the moment, despite attacks by both countries in the Persian Gulf in recent days.

The war against Iran, launched by the United States and Israel, has entered its sixth month without achieving its stated goal of overthrowing Iran’s clerical regime. Oil prices have been particularly affected by the sustained closure of the strategic Strait of Hormuz, through which 20% of the world’s crude flows. Brent has previously come close to $120 a barrel.

There is no exchange of fire

· JD VanceVance used the phrase to explain why he was minimizing the conflict’s current scale.
About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

More Stories

From Our Blog