Crude oil’s roller coaster rideCrude oil prices have seen a whirlwind of volatility over the past month, driven by various factors ranging from demand concerns to geopolitical conflicts. October 11: As the situation appeared to stabilize and concerns of a regional conflict subsided, Brent crude retreated to $85 per barrel. These warnings sent Brent crude prices higher from $85 to $90 per barrel. Brent crude prices surged to an intraday high of $93.76 per barrel before closing at $92.39. This strategic shipping route facilitates the transit of one-fifth of global oil supply and 40 percent of global seaborne crude.

Source: Philippine Star October 23, 2023 09:56 UTC