Brent crude climbs to $101.49 as US hurricane threatens Gulf output

Brent oil prices rose to $101.49 per barrel on Wednesday, driven by market concerns that an approaching hurricane could disrupt US production, particularly in the Gulf of Mexico. The exact path and intensity of the storm remain uncertain, but any significant shutdown of offshore platforms would tighten global supply. This price increase reflects immediate supply risk premium, with potential for further volatility if the hurricane strengthens or makes landfall in key production areas.