- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,197.90+0.17%
- INTEREST37.00%-1.00
- BITCOIN81,724-2.33%
- October 13, 202617°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,197.90+0.17%
- INTEREST37.00%-1.00
- BITCOIN81,724-2.33%
- October 13, 202617°
Brent crude oil rose to $97.60
The barrel price of Brent crude oil increased by 1.7% to $97.60. Uncertainty in US-Iran talks and Gulf tensions supported the prices.
The futures barrel price of Brent crude oil rose by approximately 1.7% to $97.60 as of 09:46. At the same time, the barrel of West Texas Intermediate crude oil was traded at $95.36.
Highlights
- The barrel price of Brent crude oil reached $97.60.
- WTI crude oil traded at $95.36.
- Uncertainty in US-Iran talks influenced the rise.
- Renewed tensions in the Gulf supported the prices.
Uncertainty pushed prices up
The rise in the markets was driven by uncertainty regarding peace talks between the US and Iran. Questions about the outcome of the talks created upward pressure on oil prices.
US President Donald Trump said negotiations with Iran are ongoing without interruption and called on Tehran to make a deal. Trump stated that reports claiming the talks had stopped a few days ago were false, and that contacts continued uninterrupted including yesterday and today.
Tensions increased in the Gulf
The US Central Command announced that an unladen oil tanker heading towards an Iranian port in the Basra Gulf was neutralized. This development strengthened interpretations that tensions in the region have risen again.
The Iranian Revolutionary Guards Corps announced that the US Fifth Fleet Headquarters in Bahrain was hit with missiles and drones. The statement said the attack was carried out in response to the US attack on Qeshm Island.
The Revolutionary Guards' statement also noted that the US launched a missile attack on an Iranian oil tanker near the Strait of Hormuz during the night, and subsequently, the Panama-flagged ship linked to the US-Israel was targeted by missiles from the Iranian navy.
In the markets, weakening optimism about the possibility of a peace agreement between the US and Iran and the ongoing risk of conflict in the Middle East emerged as the main factors supporting prices. In the technical outlook, Brent crude oil is monitored with resistance at $98.3 and support at $96.72.
Sponsored Ads
Featured Listings
Loading featured properties...
Stay Updated with The Turkiye Times
Subscribe to be informed about special news, developments and announcements. We will keep you informed.
By signing up, you agree to our Privacy Policy
