The price of oil has risen above $100 a barrel for the first time since July as the escalating conflict in the Middle East threatens further disruption to global supplies.
Brent crude, the international benchmark for oil prices, rose 2.7% to about $100.6 after tensions increased in the Gulf amid the latest tit-for-tat exchange of fire between the US and Iran.
UK and mainland Europe gas prices also soared on Wednesday. The benchmark Dutch gas contract rose by almost 4% to €78.73 a megawatt hour, the highest since January 2023. Meanwhile, the British contract rose by 7.77p to 196.57p a therm, the highest since December 2022.
for the first time since July
It’s September. WTF is this headline?
All these fucking idiots who voted for trump are pedophile enabling fucks who are so dumb they would burn down their entire lives so trans people can’t play sports. You fucking idiots.
That’s why energy companies love fossil fuels a lot more than renewable. Oil price goes up, fuel price shoots up immediately. Oil goes down, price of fuel slowly floats down. Much more margin.
For the last, uh, well for most of my life, gas prices rise and rise. Grumbling about it rise and rise until finally Congress says they’re going to look into it. And then prices drop almost immediately before starting to creep up again. And Congress never really looks into it.
i feel that the language in the title is not trying to be honest. like “like never seen before…. 4 weeks ago”. it would have been more honest if it said “oil price per barrel over $100 again”
Terrible title. Oil prices up to $100 for the first time EVER in the last month!
The first time since last time.
Maga amirite you republican morons?
I recently had to dip into California on a road trip. Diesel fuel was $8.50 a gallon and its still rising.
How cargo transport is going to survive at that price level I have no idea.
It’s roughly 2,30 euro a litre in Germany… So $2.66 per litre or roughly 10 bucks per gallon.
Reminder that oil is refined before it is made into products such as gasoline. If say a refinery gets blown up, that can make refined products like gasoline much more expensive due to less supply and simultaneously lower the price of crude oil because with less refining there is less demand for crude oil.
The price of crude oil going in to be refined is important because if that is crazy expensive then generally so will be products that are made from it but there are some other factors at play
It’s kinda special that the US still is in a war they already lost in the first week. I’ve never seen that happening before.
Are you kidding?!! We’ve won this war at least 8 times already!
Lol
Don’t panic ,just another scam in progress
Make the usa pay for it
And this is why I just bought an EV.
Yeah because electricity prices are unaffected by oil prices… Right?.. Right?!?
They are where I am.
You’re in the UAE? Here in Europe they are highly fluctuating, getting a new energy contract deal changes every day by a landslide. All because of the war with Iran.
Got photovoltaics and prices are fixed 12 to 24 month here in Germany. Unlike gas I can make electricity myself. The faster we wean off oil, the faster we become unaffected. Also no gas heating helps
