Oil price rises above $115 a barrel amid fears US will renew strikes on Iran - The Guardian — SkimNews
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- Brent crude topped $116 a barrel, a six-month high, as tensions swelled across the Middle East.
- Iran was the focus of U.S. strike fears as oil rose above $115 a barrel; Reuters also cited Houthi-Saudi attacks and a UAE oil spill behind Brent's more-than-five-month high.
Why it matters: Oil producers gain from stronger crude prices, while fuel buyers face a higher cost base; the concrete change is Brent above $116 and a six-month high, with Houthi-Saudi attacks and a UAE spill cited alongside fears of renewed U.S. strikes on Iran.
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