U.S. Crude Climbs 3% on Fears of War Escalation, Oil Stockpiles Drop for Fourth Straight Week
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6 Articles
U.S. crude climbs 3% on fears of war escalation, oil stockpiles drop for fourth straight week
US crude oil rose 3% on worries over the potential for renewed military strikes against Iran after the midterm elections and helped by a fourth straight weekly decline in US crude stockpiles
Brent's barrel price for delivery in December rose by 1.26% on Wednesday, to $115.32 at the close of the session in London's futures market.
Crude oil futures prices on the New York Mercantile Exchange rebounded on the 28th for the first time in three trading days, with the benchmark West Texas Intermediate (WTI) December delivery closing at $102.78 per barrel, up $2.88 from the previous day.
The market fears new American strikes in Iran.
LONDON, UK.— The price of Brent oil rose by 1.26% and exceeded $115 per barrel, while Texas crude oil advanced by 2.88%, amid fears of a new escalation of war in the Middle East and possible disruptions in supply. Brent oil exceeds $115 [...]
Brent futures rose 1.3% to close at $115.32 a barrel, while U.S. WTI crude rose 2.9% to $102.78 a barrel.
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