Oil Prices Exceed $100

Global oil prices have surpassed $100 per barrel for the first time since 2022. This rise has occurred against a backdrop of escalating tensions in the US-Israel-Iran conflict and prolonged concerns regarding supply disruptions through the Strait of Hormuz.

Over the weekend, the US and Israel carried out new airstrikes within Iran, targeting several facilities, including oil depots.

Potential serious disruptions to energy supply could lead to price increases for consumers and businesses worldwide.

On Monday morning in Asia, Brent crude oil rose by nearly 15.5%, reaching $107.16 per barrel, while the price of US Nymex Light Sweet oil surged over 17% to $106.77.

Many market participants had predicted that oil prices would hit the $100 mark this week. A 10% price increase was recorded in just about one minute, followed by an additional 10% rise within the next 15 minutes in Asia.

Last week, the markets were relatively calm, although millions of barrels of oil and liquefied natural gas were effectively blocked in the Gulf due to transit issues in the Strait of Hormuz.