middle east crisis

Oil sizzles from 33-month low on Israel-Iran war, Brent up 3% to $74; China demand, US inventories limit gains

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Oil sizzles from 33-month low on Israel-Iran war, Brent up 3% to $74; China demand, US inventories limit gains

International crude oil prices climbed three per cent before paring gains on Wednesday, October 2, on worries that the escalating conflict in the Middle East due to the Israel-Iran war could threaten oil supplies from the world’s top-producing region. However, a large build-up in US crude inventories limited gains. Brent futures were last up 84 … Read more

Oil prices rise 2% to hit 3-week high on China stimulus, supply worries by MidEast conflict; Brent reclaims $75

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Oil prices rise 2% to hit 3-week high on China stimulus, supply worries by MidEast conflict; Brent reclaims $75

International crude oil prices climbed two per cent to hit a three-week high on Tuesday, September 24, after the monetary stimulus from China, the world’s top importer, and concerns that conflict in the Middle East could hit regional supply. At the same time, another hurricane (after the recent storm Francine) threatened supply in the US, … Read more