Oil prices exceed $105 as conflicts escalate in the Middle East

Elaha Wed Oct 2026 4 hours ago 13

According to a Reuters report, the price of Brent crude oil in Wednesday's trading reached around $105 and 83 cents, and at one point rose to $106 and 50 cents per barrel. Additionally, the price of U.S. West Texas Intermediate crude oil was reported at approximately $94 and 42 cents in this news agency's morning update.


The recent attack on Saudi Aramco oil facilities in Saudi Arabia, threats to commercial ships in the Strait of Hormuz, and reports of a container ship sinking after colliding with a sea mine have been cited as factors heightening concerns about disruptions to global oil supplies.


The Strait of Hormuz is one of the world's key oil transit routes, and any disruption to tanker traffic through this waterway could impact energy prices and maritime shipping costs.


This rise in oil prices comes amid expanding regional conflicts that have amplified concerns over the security of energy infrastructure in Gulf countries and international trade routes.


Meanwhile, the International Energy Agency has warned that a global diesel shortage, stemming from disruptions in oil production and refining, may persist until 2027.



The price of oil in global markets on Wednesday, October 13, exceeded $105 per barrel, following the escalation of conflicts in the Middle East and growing concerns about the security of energy transit routes.

ilaha

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