Market Reports

Oil Prices Surge as Brent Reaches $91 Amid Tensions

By RT Staff Reporters · April 5, 2024 · 1 min read

Oil futures ended higher last Friday, propelling Brent crude to a peak of $91 per barrel, fueled by mounting tensions in the Middle East and Eastern Europe, which threaten supply lines.

The upbeat demand forecast in the United States, underscored by a report revealing job growth exceeding expectations, also supported oil prices.

WTI crude for May ascended by 0.37% ($0.32) to $86.91 per barrel on the New York Mercantile Exchange.

Meanwhile, Brent for June delivery increased by 0.57% ($0.52) to $91.17 per barrel on the Intercontinental Exchange.

Throughout the week, WTI experienced a 4.50% rise, while Brent surged by 4.80%, reaching heights unseen since the previous October.

Oil Prices Surge as Brent Reaches $91 Amid Tensions. (Photo Internet reproduction)

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Iran’s vow of retaliation against Israel, post-Syrian embassy attack, intensifies prospects for broader regional conflict.

This speculation pushed Brent over $90 for the first time since last October.

It was especially notable after Israeli forces disrupted navigation signals over Tel Aviv, hinting at preparations for a possible counterattack.

Half a year into the conflict, cease-fire efforts in Gaza have been stagnant, with ongoing calls for peace yet to materialize.

Until now, global oil supply concerns were relatively contained, but a conflict escalation could significantly disturb the market.

Assaults on energy infrastructure in Ukraine and Russia heighten concerns over global production and exports, exacerbating existing tensions.

Drone attacks on Russian refineries disable 14%, requiring extensive repairs and impacting refining capacity.

Live Market IntelligenceCommodities — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

Commodities — Live Market Board

Global
Jul 23, 2026 · 08:28

Brent crude · benchmark

92.80
-1.35%

L 85.01day rangeH 86.64

+35.45% over 12 months

Market breadth · 15 names

67% advancing

10 ▲ advancing5 declining ▼

Currencies, rates & key inputs

Gold

4,091

-1.36%

Silver

58.90

-1.86%

Copper

6.47

+0.28%

Iron ore

161.91

·

WTI crude

90.36

+4.07%

Full instrument board

Instrument	Last	Change	YoY	Prev.	High	Low	Volume
GOLD	4,091	-1.36%	+20.52%	4,147	4,144	4,075	49,959
SILVER	58.90	-1.86%	+49.96%	60.02	60.36	58.84	9,986
BRENT	92.80	-1.35%	+35.45%	94.07	86.64	85.01	20,416
WTI	90.36	+4.07%	+38.48%	86.83	90.72	87.32	110,125
COPPER	6.47	+0.28%	+11.63%	6.45	6.54	6.44	10,195
LITHIUM	69.00	-0.12%	+58.73%	69.08	69.65	68.95	261,058
IRON ORE	161.91	—	+64.76%		161.91	161.91	1
SOY	1,245	+0.93%	+23.74%	1,233	1,245	1,236	23,364
CORN	488.75	+5.79%	+22.65%	462.00	489.25	483.00	46,037
WHEAT	708.50	+0.39%	+31.08%	705.75	710.00	698.25	16,802
COFFEE	316.95	+0.09%	+5.18%	316.65	321.30	312.55	2,133
SUGAR	14.88	+0.95%	-8.37%	14.74	14.88	14.73	12,794
COCOA	5,409	+1.52%	-35.91%	5,328	5,411	5,194	3,014
ORANGE JUICE	147.50	+2.57%	-56.17%	143.80	150.50	140.55	—
COTTON	81.64	+2.22%	+22.55%	79.87	81.75	79.75	3,651
BEEF	219.20	-3.30%	-3.45%	226.68	222.55	218.83	22,518
CATTLE	336.15	-3.83%	+1.40%	349.55	344.00	335.00	11,864
USD/BRL	5.06	+0.05%	-9.11%	5.05	5.06	5.04	—

Largest moves today

CORN
488.75
+5.79%

WTI
90.36
+4.07%

CATTLE
336.15
-3.83%

BEEF
219.20
-3.30%

ORANGE JUICE
147.50
+2.57%

COTTON
81.64
+2.22%

SILVER
58.90
-1.86%

COCOA
5,409
+1.52%

The session read

The Brent crude eased 1.35%, with breadth positive — 10 of 15 names higher. CORN led, while CATTLE lagged.

From The Rio Times

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Oil Prices Surge as Brent Reaches $91 Amid Tensions

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