Brent crude tops $102 a barrel intraday…global oil prices rise amid Middle East tensions

Minseung Kang

Summary

Amid ongoing geopolitical tensions in the Middle East, global oil prices rose, with Brent crude topping $102 a barrel.
Odaily reported that Brent crude breached $102 a barrel intraday, with an intraday gain of about 1.11%.
The market is flagging the possibility that energy price volatility could increase on concerns over supply disruptions stemming from escalating tensions in the Middle East.

Forecast Trend Report by Period

With geopolitical tensions in the Middle East persisting, global oil prices extended gains, pushing Brent crude above $102 a barrel.

According to Odaily, a digital-asset news outlet, Brent crude breached $102 a barrel intraday on the 16th. The intraday gain was about 1.11%.

International oil prices have been maintaining an upward trend recently as heightened tensions in the Middle East bring supply-disruption concerns back into focus. The market is also citing the possibility that continued geopolitical risk could amplify volatility in energy prices.