Why Is Brent Crude Oil Price Up 8.65% This Week, Ending Sep 11? Hormuz Disruptions and Saudi Supply Drop Lift Brent Above $100
Brent crude oil rose 8.65% this week, closing at $104.61 as tanker strikes, shipping attacks, and reduced Hormuz flows lifted the geopolitical risk premium. Technical momentum remains constructive, but Brent is approaching the week's $110.19 high while easing tensions could expose downside volatility.