TechET Techabout 2 hours ago
Crude Oil Prices Diverge on Middle East Conflict
1 min read
Crude oil prices are showing a significant divergence due to escalating conflict in the Middle East. Barrels facing transit risks through choke points like the Strait of Hormuz are heavily discounted, while freely moving oil commands premiums. Brent futures hit a three-month high of $109.97 a barrel on September 11. Oil outside the Persian Gulf, such as Australia's Pyrenees grade, is increasingly expensive for Asian refiners.
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