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Crude Oil Prices Surge Past 107 Dollars Amid West Asia Tensions
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CNBC Awaaz•14-10-2026, 07:54
Crude Oil Prices Surge Past 107 Dollars Amid West Asia Tensions
- •International benchmark Brent crude rose 1.24 percent to 107.02 dollars per barrel while WTI crude crossed 95 dollars.
- •Escalating conflict between Saudi Arabia and Iran-backed Houthi rebels has heightened fears of global oil supply disruptions.
- •Tensions between the US and Iran over the Strait of Hormuz continue to keep geopolitical risks high in the market.
- •Commodity trader Paul Tudor Jones warns that crude oil prices could see an additional surge of 20 to 25 dollars per barrel.
Key Questions Answered
Crude oil prices rose due to the escalating conflict between Iran-backed Houthi rebels and Saudi Arabia in West Asia, alongside ongoing tensions between the US and Iran over the Strait of Hormuz.
Experts and commodity traders like Paul Tudor Jones express apprehension that if the crisis persists, crude oil prices could rise by an additional $20 to $25 per barrel.
The US Central Command (CENTCOM) dismissed claims by the Iranian Islamic Revolutionary Guard Corps Navy that US warships reaching the Strait of Hormuz would be sunk, stating that the US military and its allies maintain clear control over the strait.
