Brent crude surpasses $106 a barrel amid market volatility

Global oil prices hit a new high in the latest trading, with Brent crude, the global benchmark, jumping 2.88% to $106.11 a barrel.

Economic reports monitored by Al-Maalomah Agency stated that “US West Texas Intermediate crude also rose by 2.54%, recording $101.22 per barrel, immediately after trading opened on the Chicago Stock Exchange.”

The reports added that “this noticeable rise was less severe than the sudden jumps seen in recent sessions, but it reflects the continued state of tension in global energy markets.”

It is worth noting that oil prices have risen sharply since the outbreak of recent international crises, with West Texas Intermediate crude increasing by about 50% in a short period, amid concerns about the impact on global energy supplies.

Almaalomah.me