Oil prices climb on Middle East shipping risks and US stock draws

Oil prices climbed by more than $2 on Wednesday 21 October, pushing Brent close to a five-month peak as escalating maritime incidents in the Middle East and falling US fuel stockpiles heightened concerns over global supply, reported Reuters.

By 10:48 GMT, Brent crude contracts had risen by $2.06, or 1.9%, to $110.85 per barrel (bbl).

Scoop Stack Shale in the United States of America (USA) - Oil and G... Go deeper with GlobalData The gold standard of business intelligence.

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

This story was originally published by Offshore Technology. Read the full story at Offshore Technology →