cross-posted from: https://news.abolish.capital/post/36293
The retaliatory strikes hit key energy hubs across the Persian Gulf, as Trump scrambled to deny any responsibility for the South Pars strike
Benchmark oil prices surged past $119 per barrel on 19 March, one day after Israel bombed Iran’s South Pars Gas Field, triggering retaliatory Iranian attacks on energy infrastructure across West Asia and fueling fears of wider supply disruptions.
Brent crude jumped more than $10 during trading, briefly reaching $119.13, before settling around $113 later that day.
US West Texas Intermediate (WTI) rose modestly to $96.59 after earlier nearing $100, as analysts noted a widening gap between the two benchmarks, with WTI trading at its largest discount to Brent in over a decade.
From thecradle.co via This RSS Feed.