Monday, May 11, 2026

Business News

Oil prices rise by $3 per barrel

Oil prices rose by around $3 per barrel amid the failure of international efforts to reach a ceasefire agreement and continued disruptions to shipping traffic in the Strait of Hormuz, which have contributed to tightening energy supplies in global markets.

ONA

info@thearabianstories.com

Monday, May 11, 2026

SINGAPORE – Brent crude futures rose by $3.18, or 3.14 percent, to $104.47 a barrel, extending gains from Friday’s 1.23 percent increase.

US West Texas Intermediate (WTI) crude oil futures climbed to $98.51 a barrel, up $3.09, or 3.24 percent, after settling 0.64 percent higher in the previous session.

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