Brent Crude Rises as US Plans Supply Boost Amid Attacks
Brent rose as the U.S. weighed releasing oil reserves after Middle East energy attacks. Markets remain volatile while Washington considers lifting sanctions.
Global oil markets experienced significant volatility on Thursday as Brent Crude Oil prices surged toward multi-year highs before retreating. The market reaction followed a series of overnight attacks on energy infrastructure across the Middle East, prompting the United States to explore measures to bolster global supply. Brent futures settled up $1.00, or 0.93%, at $108.46 per barrel, having reached a session peak of $119.13 earlier in the day. Meanwhile, U.S. West Texas Intermediate crude rose 45 cents to $96.77 per barrel, though it briefly turned negative after hitting a session high above $100.
