Oil up 1% amid supply disruption fears - Breaking The News

Oil up 1% amid supply disruption fears

26 February

1 min read

EPA-EFE/ETIENNE LAURENT

Crude oil futures rose more than 1% on Wednesday, boosted by signs of supply disruption as geopolitical tensions seemingly caused concern among investors.

The United States Central Command (CENTCOM) confirmed earlier that Iran-backed Houthi rebels launched an attack on a US flag tanker last Saturday. The missile hit the water close to the ship, resulting in no harm or casualties.

West Texas Intermediate (WTI) for deliveries in April 2024 increased by 1.58% at 12:44 pm ET and went to $77.67 per barrel. At the same time, Brent for April settlements rose 1.36% to sell for $82.74 per barrel.

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