Oil prices jump 5% on Middle East tensions and US hurricane threat

NEWS SUMMARY

Oil prices surged 5% to $105.3 a barrel on Thursday due to escalating Middle East tensions and a US hurricane threat impacting Gulf of Mexico production. Reports of potential US strikes against Iran and Shell/Chevron shutting down production ahead of Tropical Storm Isaias fueled fears of supply disruptions and rising inflation, causing global bond and stock markets to decline.

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Global bond market sell-off continues and stocks fall amid reports White House has asked to see options for more strikes against IranOil prices have risen sharply amid fears about escalating tensions in the Middle East and a squeeze on production from the threat of a hurricane off the US coast. Brent crude, the international benchmark, rose by 5% to $105.

Oil prices jump 5% on Middle East tensions and US hurricane threat

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This page aggregates and summarizes reporting from The Guardian Middle East. The Conflict Pulse does not author original reporting. Read the original source for full coverage.

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