Brent crude oil has closed above $100 per barrel for the third straight trading day, marking its longest such streak since August 2022. The sustained high prices reflect ongoing investor caution regarding potential disruptions to Middle Eastern oil supplies.
Oil prices experienced volatility during the trading session, with West Texas Intermediate (WTI) crude declining by 5.3% to around $93.50 per barrel. Traders are currently awaiting a potential release from the U.S. Strategic Petroleum Reserve.