Brent crude oil prices surged above $96 per barrel following reports that Iran fired missiles at Kuwait, escalating tensions in the Middle East. This development has triggered increased market activity and speculation regarding potential impacts on global oil supply and prices. Market participants view this event as potentially significant for oil futures pricing and related financial instruments. Current market pricing suggests a low probability of crude oil reaching a new all-time high by September 30, with a slight increase in probability for December 31. Statements from key figures such as Mohammad Sanusi Barkindo, Fatih Birol, and Abdulaziz bin Salman Al Saud may provide additional insights into potential OPEC policy shifts.
Source: Read the original article
