Brent jumps toward $108; AAA diesel hits new record $6.23
UPDATED · Mon. 8 a.m. EDT
Oil futures jumped more than 3% on Monday as Saudi Arabia’s East-West pipeline remained shut and Oman postponed Gulf–Iran Hormuz talks: Brent rose about $3.21 to roughly $107.82 a barrel (intraday near $108), while WTI gained about $3.17 to about $103.22, according to Al Jazeera and NBC News market wraps. AAA’s national average diesel price reached a new record $6.23 a gallon on Monday, with regular gasoline around $4.31, NBC News reported citing AAA.
Refinery towers and process piping. File photograph used for layout; not from Monday’s futures prints.
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Center-left view
NBC News, Al Jazeera, and Anadolu Agency frame Monday’s dual shock — Brent near $108 and AAA diesel’s new $6.23 record — as the market pricing a still-shut Saudi East-West line, thin Hormuz traffic, and the postponement of Oman’s Gulf–Iran meeting, with economists warning diesel costs feed into food and freight inflation.
Sources: NBC News · Al Jazeera · Anadolu Agency
Center-right view
The National, Al Jazeera’s Wright/Hormuz explainer, and Anadolu’s Monday diesel print stress supply-risk premiums: Petroline offline while Hormuz flows remain far below pre-war levels, U.S. Energy Secretary Chris Wright’s claim of roughly two-thirds of prior Hormuz oil volumes notwithstanding, as Brent and WTI both print above $100 into the new week.
Sources: The National · Al Jazeera · Anadolu Agency