Hanoi:Oil prices experienced an uptick today as ongoing concerns about supply disruptions from the critical Middle East producing region continued. This comes in the wake of increased attacks on shipping in the Gulf and the Strait of Hormuz.
According to Oman News Agency, Brent crude futures saw an increase of $1.33, or 1.33%, reaching $101.53 per barrel by 0116 GMT. Meanwhile, West Texas Intermediate (WTI) crude futures rose by $1.11, or 1.26%, to $89.39.
The tensions impacting oil supply are primarily centered around the vital shipping routes in the Gulf and the Strait of Hormuz, where recent attacks have intensified concerns about the stability of supply from this region.
