The Economic Times

Whats happening with WTI and Brent crude oil today? Why oil prices are surging $1 every hourand will Brent cross $110 next?

Whats happening with WTI and Brent crude oil today? Why oil prices are surging $1 every hour. Oil price today is rising at an extraordinary pace across global energy markets. Brent crude is hovering near the $100 mark again. WTI crude is also climbing sharply with intraday gains nearing $1 every hour. Brent crude jumped over 12% within just 24 hours recently. WTI crude followed with similar sharp gains across trading sessions. These moves are rare and usually tied to supply shocks or war-like conditions. Fresh tensions between the United States and Iran are reshaping market expectations quickly. Supply fears are building as traders react to uncertain shipping flows and rising conflict risks.