[International Oil Prices] Rise for Third Straight Day; Brent Crude Oil Surpasses $95

[Financial News]  

International oil prices continued their upward trend on the 2nd (local time), marking a third straight day of gains since July 31.
Oil prices have continued to rise on concerns over supply disruptions after the United States attacked missile launchers operated by the Islamic Revolutionary Guard Corps (IRGC) on Iran’s Larak Island on July 30, ending a lull of more than a month and reigniting clashes between the two sides.
Brent crude oil, the benchmark for international oil prices, settled at $95.63 per barrel for November delivery, up 1.04% from the previous session.
West Texas Intermediate crude oil (WTI), the U.S. benchmark, also ended trading at $91.01 per barrel for October delivery, up 0.88%.
Brent crude oil reached its highest level since July 24, while WTI hit its highest since July 23.
President Donald Trump said that the U.S. airstrikes against Iran "will not last long," but added that "the United States is ready to attack again at any time." He particularly stressed that the attack was unavoidable because Iran was rebuilding its air and missile defense systems, including radar and missile systems, and was nearly finished developing a system for deploying mines by missile.
President Trump added, "With the powerful attack last night, we destroyed all the new defensive and offensive equipment they had been trying to build along the Strait of Hormuz."

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