Oil prices surge on worries of shipping attacks and a Gulf of Mexico hurricane
Summary
The price of Brent crude oil rose by about 5% on Thursday 8 October to 105 dollars per barrel, on worries of shipping attacks and a hurricane in the Gulf of Mexico. Earlier in the day, The Guardian reported Brent heading towards $103 a barrel amid supply fears and shipping attacks, with Asian shares sliding. It later reported oil prices rising sharply on Middle East tensions and the US hurricane threat, as the global bond market sell-off continued and stocks fell amid another wave of potential strikes against Iran.
Latest: Brent crude rose by about 5% to 105 dollars per barrel on worries of shipping attacks and a Gulf of Mexico hurricane, as stocks fell and the global bond market sell-off continued.
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How it unfolded
Thursday 8 October
Brent crude rose by about 5% to 105 dollars per barrel on worries of shipping attacks and a Gulf of Mexico hurricane, as stocks fell and the global bond market sell-off continued.
- 08:28Evening StandardOil prices surge on worries of shipping attacks and Gulf of Mexico hurricane
- 08:28The IndependentOil prices surge on worries of shipping attacks and Gulf of Mexico hurricane
- 04:44The GuardianOil prices rise sharply on Middle East tensions and US hurricane threat
- 03:10The GuardianOil prices climb amid supply fears and shipping attacks; prospect of rate rise weighs on UK housing market – business live