Oil rises amid escalating Middle East tensions

11/04/2024 Argaam

Oil prices rose today, April 11, amid escalation of tensions in the Middle East.

 

Brent crude futures rose $0.05 to $90.53 a barrel at 0632GMT.

 

Similarly, futures prices for US West Texas Intermediate (WTI) crudegained $0.04 to $86.25 per barrel.

 

"Prices remain sensitive to geopolitical developments in the Middle East, with market participants pricing for the risks of supply disruptions if tensions were to drag for longer," said Yeap Jun Rong, market strategist at IG.

 

Investors are anticipating OPEC's monthly report later today, as well as the International Energy Agency's oil report tomorrow.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.