Brent oil prices climb to $114 a barrel

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Brent oil prices rose to around $114 a barrel on Friday morning, extending their gains this week amid concerns over supply following fresh Houthi attacks on Saudi energy facilities.

Brent crude futures increased by 1% to $114.37 a barrel, while US West Texas Intermediate (WTI) crude rose by 1.25% to $100.74 a barrel.

On a weekly basis, Brent crude was heading for a 4% increase, while US WTI was set to gain 1.8%.

The latest gains reflect concerns about potential supply disruptions following the attacks on Saudi energy infrastructure, adding pressure to international oil markets.

Higher oil prices can increase fuel and transport costs, with potential knock-on effects for households and businesses, including in Cyprus, which relies heavily on imported energy.


Also read: Fuel prices rise 24.6% year on year in September
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ON THIS DAY: 3.4-billion-year-old fossils revealed (1977)

On 23 October 1977, palaeontologist Elso Barghoorn announced the discovery of fossilised single-celled organisms estimated to be 3.4 billion years old, offering remarkable evidence of life on the early Earth. The announcement highlighted the possibility that microscopic life had emerged relatively early in Earth's history, long before plants, animals or other complex organisms appeared. Barghoorn was known for his pioneering work in palaeobiology, particularly his research into ancient microorganisms and the origins of life. Why ancient microfossils matter Unlike the fossilised bones and shells commonly associated with prehistoric life, ancient microfossils can be extremely difficult to identify. Their structures are tiny, and geological processes over billions of years can alter or obscure their original appearance. Researchers study these specimens to understand when life first appeared, what early organisms may have looked like and the environments in which they survived. Evidence of such ancient life is also important to astrobiology, as scientists investigate whether similar conditions might have supported microorganisms elsewhere in the solar system. The continuing search for Earth's earliest life The interpretation of some of the world's oldest proposed microfossils remains a subject of scientific debate. Structures that resemble microorganisms can sometimes form through non-biological processes, making independent chemical and geological evidence essential. Nevertheless, Barghoorn's work helped establish the study of ancient microscopic life as a major field of scientific research. Nearly half a century after his 1977 announcement, the search for Earth's earliest organisms continues to reshape our understanding of how life began.

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