- Brent rose 1.8% to $97.39 a barrel and WTI gained 2.1% to $92.92 as Middle East supply-disruption concerns intensified; both contracts reached six-week highs.
- Reuters reported that Hormuz crossings were below average on Wednesday, adding to concerns over the security of a route central to global oil flows.
- OilPrice reported that Iraq increased oil exports via Hormuz, describing the move as a boon for Asian refiners.
Quotes
“Hormuz crossings below average on Wednesday, data shows”
“Iraq Hikes Oil Exports via Hormuz in Boon for Asian Refiners”