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Curious Minds Corner
Brent Tops $91 After Unidentified Projectile Hits Vessel Transiting Hormuz
Early on Tuesday in Asian trade, Brent Crude prices had topped $91 per barrel, trading 0.69% higher at $91.50 a barrel. The U.S. benchmark, WTI Crude, topped $85 per barrel, rising by 0.92% on the day to $85.28.
“International supply estimates point to a meaningful reduction in available crude as Gulf production remains disrupted, while producer-group projections continue to show relatively modest demand growth,” said Naeem Aslam, CIO at Zaye Capital Markets in the analysis.
Curious Minds Corner
What is the purpose of gas flaring?
To burn off excess natural gas, often for safety or operational reasons.