Brent futures hit one-month high over concerns about prolonged Hormuz disruption
Oil prices rose about 3% with Brent futures touching a one-month high. That's amid fears of a prolonged US blockade of Iranian ports throttling energy exports from the Middle East region. Brent is now trading around US$114 per barrel and WTI at US$103 per barrel. Investors are also taking into account the impact of UAE's withdrawal from OPEC. Joining us to share her insights is Ole Hansen - Head of Commodity Strategy at Saxo Bank, speaking to us from Copenhagen.
Oil prices rose about 3% with Brent futures touching a one-month high. That's amid fears of a prolonged US blockade of Iranian ports throttling energy exports from the Middle East region. Brent is now trading around US$114 per barrel and WTI at US$103 per barrel. Investors are also taking into account the impact of UAE's withdrawal from OPEC. Joining us to share her insights is Ole Hansen - Head of Commodity Strategy at Saxo Bank, speaking to us from Copenhagen.
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