Brent Jumps $4 a Barrel to Five-Month High on Houthi Attack Supply Fears
Summary
- International oil prices continued to rise as concern grew over potential disruptions to Middle East oil supplies.
- Brent crude extended gains in international crude futures trading as supply concerns in the Middle East deepened following Houthi rebel attacks.
- Brent crude spiked $4 a barrel to reach its highest level in five months.
Forecast Trend Report by Period
Rising concern over potential disruptions to Middle East oil supplies is extending the rally in international oil prices. Brent crude jumped $4 a barrel to its highest level in five months.
In international crude futures trading on October 22, Brent extended its gains as Houthi attacks heightened concerns over supply disruptions in the Middle East.
The continued attacks by Houthi rebels have fueled worries that oil supplies from the region could be disrupted, helping drive prices higher.
Brent rose $4 a barrel, reaching its highest level in five months.
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