Author: Omar Haddad

Sovereign wealth funds, oil diplomacy, and the region's aggressive push into diversification are where Omar's reporting lives. Born in Amman, he studied economics before an early stint at a regional bank gave him the sourcing relationships he still relies on today. He's covered energy summits from Riyadh to Doha and has a low tolerance for press-release journalism. He's also a serious backgammon player, a game he insists teaches better risk assessment than any finance course.

Brent crude rises above $100 a barrel as Middle East conflict threatens oil supplies and regional shipping routes

Middle East

SINGAPORE [BE Report]: Brent crude climbed above $100 a barrel on Wednesday, marking the first time since July 24 that the international benchmark has crossed the psychologically important threshold as the escalating Middle East conflict raises fresh concerns over regional oil supplies. Brent futures were up $2.15, or 2.2%, at $100.07 a barrel by 0721 GMT. U.S. West Texas Intermediate crude also advanced, gaining $1.70, or 1.83%, to $94.73 a barrel. Oil prices have gained roughly 25% since the beginning of August as expectations for a lasting settlement to the six-month-old U.S.-Iran conflict have weakened. The latest escalation has added…

Read More