Oil prices fall as Trump pauses attacks on Iranian energy plants, Brent at $105

Oil prices are soaring past $100 a barrel as the Middle East conflict nears a month, impacting global supply. Brent crude is trading above $107, while WTI is near $94.

Key takeaways

Quick scan — what you need to know:

• Oil prices are soaring past $100 a barrel as the Middle East conflict nears a month, impacting global supply.
• Brent crude is trading above $107, while WTI is near $94.
• Goldman Sachs predicts further increases before a gradual decline.
• Iran's tightening control over the Strait of Hormuz and potential new fees on ships are key factors driving these price hikes.

Background

What led here, in plain terms:

• Oil prices are soaring past $100 a barrel as the Middle East conflict nears a month, impacting global supply.
• Brent crude is trading above $107, while WTI is near $94.
• Goldman Sachs predicts further increases before a gradual decline.
• Iran's tightening control over the Strait of Hormuz and potential new fees on ships are key factors driving these price hikes.

Why it matters

Why readers and decision-makers should care:

• Oil prices are soaring past $100 a barrel as the Middle East conflict nears a month, impacting global supply.
• Brent crude is trading above $107, while WTI is near $94.
• Goldman Sachs predicts further increases before a gradual decline.