Summary
- It reported that U.S. crude prices rose 23% in a single day, topping $111 a barrel.
- It said the surge shows crude prices have risen to nearly double their level over the past three months.
- It reported that military tensions in the Middle East and concerns over supply disruptions are factors behind higher oil prices and the potential expansion of global inflationary pressures.
Forecast Trend Report by Period
U.S. crude prices surged more than 20% in a single day, climbing above $111 a barrel.
According to The Kobeissi Letter, a market analysis account, on the 8th (local time), U.S. crude rose 23% intraday and is trading above $111 a barrel.
The spike indicates crude prices have nearly doubled over the past three months.
The market sees escalating military tensions in the Middle East and concerns over supply disruptions as key drivers lifting oil prices. A sharp rise in energy costs could add to global inflationary pressure and increase volatility in financial markets.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
