Brent Oil Rises 2.77% on Supply Concerns Ahead of FOMC Meeting

Brent crude oil futures rose 2.77% to $107.51 per barrel (approximately KRW 144,386) on Wednesday, after briefly surging over 3% during trading. WTI crude futures gained 2.27%, reaching $102.32 per barrel (around KRW 137,416). CoinGecko reported that concerns over Yemen's Houthi attacks on Saudi Arabia, Iran's vessel attacks in the Gulf region, and the closure of Saudi oil pipelines have intensified supply worries. Oil prices initially jumped over 3% at the market open before the gains narrowed.

The Federal Reserve is scheduled to hold its September Federal Open Market Committee (FOMC) meeting on September 15-16.