Commodity Corner: Oil Rises on Middle East Tensions; Gold Slips
- Oil prices rose on Thursday as Houthi attacks intensified in Saudi Arabia, with Brent and West Texas Intermediate futures trading higher.
- Drones struck the Shaybah oilfield and Dammam’s international airport, while Saudi Arabia’s energy ministry said production was not affected.
- The United States ordered non-emergency government personnel to leave Saudi Arabia after the attacks.
- Gold prices declined, while silver, platinum, and palladium also fell.
12 Articles
12 Articles
Oil prices rose at the beginning of today ' s dealings, as fears of supply disruption escalated, as tensions continued in the Middle East, despite the recovery of exports through the Strait of Hormuz and their proximity to pre-conflict levels between the United States and Iran.
Commodity Corner: Oil rises on Middle East tensions; gold slips
Brent crude futures rose $1.29, or 1.2%, to $110.11 a barrel, while US West Texas Intermediate crude gained 97 cents, or 1%, to $98.12. Brent had settled largely unchanged on Wednesday, while WTI had eased 67 cents.
The value of the Brent oil futures in December exceeded $110 per barrel, as shown by the trade data. The December Brent futures increased by 1.1 per cent compared to the closing of the bidding to $110.02 per barrel, transmitting RIA News. At the same time, the December futures' price for the WTI brand rose by 0.91 per cent, reaching $98.03 per barrel. According to the WZGLAD newspaper, world oil prices continued to rise on Wednesday against the …
Brent Oil Prices Approach $110, Putting Gold Prices Under Pressure
The world price of oil went up after the opening of the bidding, and the price of the Brent barrel was $110.02 per barrel, based on the bidding.
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