Tim Waterer

Force in Play

Tracking oil price drivers

Brent crude hit $99.40 a barrel on September 8, its highest level since July, after Houthi rebels launched dozens of missiles and drones at Saudi Arabian oil installations. Commodity trader Vitol estimates that oil flow through the Strait of Hormuz has dropped to about half its pre-conflict level, and analytics firm Kpler counted just 10 cargo ships crossing per day over the prior week — the lowest since May.

Updated 1 hour ago