‎Brent crude rises nearly 4% amid escalating concerns

‎Brent crude rises nearly 4% amid escalating concerns ‎Brent crude rises nearly 4% amid escalating concerns

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Oil drilling rigs

Oil prices rose during trading today, July 22, amid growing fears of disruptions to global energy supplies, following the eleventh consecutive night of US military strikes targeting Iranian military sites.

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Data from the American Petroleum Institute showed a rise in US crude inventories, while markets await official data from the Energy Information Administration later today, amid expectations of a drop in inventories of about two million barrels.

Brent, WTI Futures Prices

Crude

Price ($/bbl)

Change ($)

Change

Brent (September delivery)

94.50

3.49

3.85%

WTI (August delivery)

87.63

3.29

3.90%

*At 10:48 am Makkah time

 

Oil drilling rigs

Oil prices rose during trading today, July 22, amid growing fears of disruptions to global energy supplies, following the eleventh consecutive night of US military strikes targeting Iranian military sites.

Data from the American Petroleum Institute showed a rise in US crude inventories, while markets await official data from the Energy Information Administration later today, amid expectations of a drop in inventories of about two million barrels.

Brent, WTI Futures Prices

Crude

Price ($/bbl)

Change ($)

Change

Brent (September delivery)

94.50

3.49

3.85%

WTI (August delivery)

87.63

3.29

3.90%

*At 10:48 am Makkah time

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