Journan — Accueil

Global Oil Prices Surge Amid Regional Security Tensions and Maritime Threats

Oil prices climbed on Thursday to their highest levels since last May, fueled by rising regional security tensions. Following deadly attacks, the U.S. government ordered certain diplomats and their families to leave its diplomatic missions in Saudi Arabia. Brent crude futures rose 3.12% to $112.2 per barrel, and U.S. West Texas Intermediate grew 2.75% to $99.82 per barrel. On the ground, a drone strike on the Shaybah oil field resulted in two fatalities and injuries, while an attack on King Fahd Airport in Dammam also led to casualties and material damage. Concerns regarding maritime security have grown, with at least 18 attacks on shipping recorded over the past two weeks, threatening crude export operations. Meanwhile, the U.S. Energy Information Administration announced that crude inventories fell by 3.06 million barrels to 412.5 million barrels last week, while distillate stocks rose by 1.68 million barrels, contrary to analyst expectations.