News

Oil price reaches $100 as new attacks reported on three cargo ships in Gulf

BBC · last updated

Oil hits $100 a barrelpublished at 04:57 GMT

published at 21:57

Osmond Chia
Business reporter

Within the last few hours the price of Brent crude hit $100 (£74.79) a barrel, rising by 9% on Thursday in Asia.

Oil prices have not eased as even after dozens of countries, including the US and the UK, announced they would release record amounts of emergency reserves.

Iran has also continued its threat against ships passing through the Strait of Hormuz, a transit point for a fifth of the world’s oil.

US-traded crude has jumped by 9% at $95.27.

Oil prices crossed $110 a barrel on Monday and have fluctuated heavily since.

An aerial view of an Arco station with fuel, prices over $5 a gallon on 11 March in Los AngelesImage source, Getty Images
View full article

here today, more tomorrow

We’ve launched briefing.center with a focus on the press and media.

And we’ve added Citizen Cartwright, a daily quick-read news summary by veteran Washington journalist Linda Cartwright. We’ve also created a new voting rights knowledge center for Citizen Cartwright subscribers. (You can sign up for a dedicated morning email at citizencartwright.com.)

You can sign up here for full access to press and media and Citizen Cartwright on briefing.center.

You can use briefing.center as the center of your information management, or just one of your tools. We’re happy to discuss your information needs.

Sign up