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Brent crude jumps 4.5% to $104.73 a barrel as U.S.-Iran tensions and Hurricane Isaias fuel supply concerns

AI Market Summary
Crude prices surged as markets priced in acute supply risks from escalating U.S.-Iran tensions, attacks on Gulf shipping, and precautionary Gulf of Mexico shut-ins ahead of Hurricane Isaias. The move tightens near-term oil balances and lifts energy risk premia, with spillovers to European gas on LNG transit concerns. Gold firmed modestly amid hawkish Fed minutes, while base metals were mixed.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT+2.71%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▲ Bullish
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International oil prices surged on Thursday as traders weighed rising shipping risks in the Persian Gulf and mounting U.S.-Iran tensions, alongside the potential impact of Hurricane Isaias on U.S. energy infrastructure. Brent crude futures climbed 4.5% to $104.73 a barrel. WTI crude futures rose 4.4% to $91.41 a barrel.
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