Texas crude hits $103.27 on Middle East escalation fears

noticiassin.com (Spanish) —

West Texas Intermediate crude oil rose 3.8% to $103.27 per barrel on Friday, driven by fears of a US-Iran escalation and new Houthi attacks on Saudi Arabia. The December WTI futures contract gained $3.80, with weekly gains near 2% amid prolonged conflict concerns. US Ambassador Mike Waltz acknowledged a possible year-long standoff with Iran over its nuclear program, while threats of post-election offensives persist. Saudi Arabia intercepted a Houthi ballistic missile, and crude flows through the Strait of Hormuz remain 26% below pre-war levels. US commercial crude reserves fell by 3.1 million barrels, adding further upward pressure.


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