Oil Set to Book Record Monthly Gain on Iran Crisis - Energy | PriceONN
Oil prices are about to log their biggest monthly rise on record following Houthi attacks on Israel and President Trump’s statement that he wants to take Iran’s oil. The international benchmark was set for a 59% increase since the start of March, Reuters said. At the time of writing, Brent crude was trading at $115.52, after topping $116 per barrel earlier in the day in Asia following the news of the Houthi strikes. West Texas Intermediate was trading at $101.04 per barrel. “The conflict is no...

Oil prices are about to log their biggest monthly rise on record following Houthi attacks on Israel and President Trump’s statement that he wants to take Iran’s oil. The international benchmark was set for a 59% increase since the start of March.

At the time of writing, Brent crude was trading at $115.52, after topping $116 per barrel earlier in the day in Asia following the news of the Houthi strikes. West Texas Intermediate was trading at $101.04 per barrel.

If the Red Sea exports get disrupted, Saudi Arabia would have to redirect oil flows to the SUMED pipeline from the Suez Canal to Egypt’s Mediterranean coast, JP Morgan analysts warned. The pipeline has a capacity of 2.5 million barrels daily.

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