International crude futures rebounded more than 3 per cent and were heading for weekly advances. Brent crude futures were up $3.41, or 3.2 per cent, at $109.34 at 12:41pm ET (1641 GMT). US West Texas Intermediate (WTI) crude futures rose $2.74, or 2.8 per cent, to $100.67, crossing $100 for the first time since 21 September.
The session’s move sat on continued uncertainty over Middle East supplies. Investors were also still assessing how much diesel Russia could supply to global markets.
Why traders kept buying
Dennis Kissler, senior vice president of trading at BOK Financial, said conflict in the Middle East “still keeps coming back” and that it was “questionable how much diesel fuel Russia can actually deliver to the markets.” Those two factors, he said, were “just continuing to have traders be buyers.”
Supply concerns also increased as attacks around the Strait of Hormuz — a key shipping route for oil — surged over the past 10 days. That backdrop helped explain why buyers stayed active even as prices moved higher.
Where Brent and WTI stand this week
Beyond the single session, the week’s picture was already stronger. So far this week, Brent has risen 4.1 per cent and WTI 8.6 per cent. Those weekly gains underline that the rebound is not only a one-day bounce for dollar-priced crude benchmarks.
Brent’s level near $109 and WTI’s return above $100 mark the concrete price points reported for this session. The figures are for crude futures priced in US dollars on international markets, not for any local retail schedule named in the material.
Timeline: what has happened so far
- 21 September: Last prior occasion cited for WTI trading above $100 before this session’s $100.67 print.
- Past 10 days: Attacks around the Strait of Hormuz surged, adding to supply concerns.
- This week so far: Brent up 4.1 per cent; WTI up 8.6 per cent.
- 12:41pm ET (1641 GMT), this session: Brent at $109.34 (+$3.41 / +3.2%); WTI at $100.67 (+$2.74 / +2.8%); oil up more than 3 per cent and heading for weekly gains.
Aasan alfaaz mein
International market mein oil ki qeemat 3% se zyada barh gai hai. Brent $109.34 aur WTI $100.67 par pahunch gaya. Middle East supply aur Russia ke diesel ke khauf ki wajah se traders kharid rahe hain. Yeh global crude futures ki is session ki khabar hai.
