Oil prices surged by more than 9% on Thursday, crossing the $100-per-barrel threshold once again. New Iranian attacks on energy infrastructure in the Middle East overshadowed the International Energy Agency's (IEA) announcement regarding the release of record volumes from strategic stockpiles.
اضافة اعلان
Brent crude jumped 9.3% to reach $100.50 per barrel, while West Texas Intermediate (WTI) rose 8.8% to $94.92.
The IEA recommended the release of a record 400 million barrels of oil to help curb prices, which have skyrocketed due to supply shocks caused by the U.S.-Israeli war on Iran. The United States is contributing the largest portion of this move, releasing 172 million barrels from its Strategic Petroleum Reserve (SPR).
On Wednesday, U.S. President Donald Trump stated that Washington is in a "very good position" in its war against Iran and that the U.S. will be "watching the Strait very closely."
Informed sources, citing U.S. intelligence, reported that the Iranian leadership remains largely resilient and does not face the risk of collapse anytime soon.
Israel and the United States have been launching airstrikes on Iran since Saturday, February 28, which led to the death of Iranian Supreme Leader Ali Khamenei. Since then, Tehran has retaliated by striking Israel and other countries in the region with missiles and drones.
Additionally, Iran has enforced a naval blockade on vessels passing through the Strait of Hormuz, targeting oil tankers that attempted to transit.
(Reuters)
