🟢 Crude Oil is trading 3.1% up today on Gulf storm and Middle East supply fears

Crude Oil is trading 3.1% up at $91.02 as Gulf storm threats and Middle East tensions raise supply concerns.

• Reuters reported October 7 gains as a Gulf storm threatened U.S. oil-producing regions and Middle East tensions raised supply risks.
• On October 8, Reuters reported persistent worries about Gulf and Strait of Hormuz shipping after increased attacks; supplied market context also highlights elevated oil and inflation concerns.