Brent Crude Futures Rise Above $107 as Middle East Risks Intensify
The November Brent contract reached $107.25 on Sept. 10, up $6.04, while missile and drone attacks raised concerns about regional supply and shipping security.
Brent prices pushed past $107 on Sept. 10 as traders weighed heightened risks to regional supply and shipping.
November Brent stood at $107.25 a barrel at 2:44 p.m. ET (18:44 UTC), a $6.04 gain. Brent is a global crude-oil benchmark used to price oil in markets worldwide.
A ballistic missile aimed at Riyadh was intercepted and destroyed at dawn on Sept. 19. Attacks on Sept. 14 injured 13 civilians and damaged seven homes and two vehicles in Khamis Mushait, Abha and Taif.
The United Nations Security Council condemned damage to civilians and energy infrastructure, along with threats to commercial shipping in the Red Sea and Bab el-Mandab Strait. The routes are important links between the Middle East, Europe and global markets.
