World oil prices began to rise

During trading on Wednesday, October 7, the exchange price of the benchmark North Sea oil brand Brent began to grow. This is evidenced by Investing data.

By 13:47 Moscow time, commodity quotes had risen to $102 per barrel. The increase to the closing level of the previous trading session by that time was 1.41 percent. At its peak, prices reached $102.05 per barrel.

The rise in prices for raw materials is recorded after a short period of falling oil prices. On Tuesday, October 6, Brent immediately fell in price to $97.5. However, this trend ultimately turned out to be short-lived.

Experts note that the dynamics of oil prices continue to be put under pressure by large-scale disruptions in the supply of raw materials through the Strait of Hormuz. A key Middle East logistics artery remains blocked, and the threat of attacks on shipping by Iran and Yemen's Houthi rebels remains.

At the end of September, according to the Marisks company, at least seven attacks on tankers were recorded in the Strait of Hormuz. This poses a threat to the global market, which is still reeling from widespread disruptions in Middle Eastern energy supplies. In the event of another escalation in the region, analysts warn, commodity prices may rise again.