Oil price today: Why Brent is above $100 as US hurricane threatens oil supply
India, Oct. 7 -- Oil prices remained above $100 a barrel on Wednesday, as investors worried about possible disruptions to global oil supplies from the Middle East conflict and a storm moving toward major US oil-producing areas.
Brent crude futures rose 35 cents, or 0.35%, to $100.93 a barrel by 0800 GMT on Wednesday. US West Texas Intermediate (WTI) crude also gained, rising 15 cents, or 0.17%, to $89.59 a barrel, according to Reuters.
The main concern in the oil market is whether the recent increase in oil supplies from the Middle East can continue, as the region remains affected by military conflict and attacks on ships.
ING commodity strategists said the oil market is likely to remain nervous because any new disruption to supplies c...
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