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Oil settles up, biggest weekly gains in over a year on Middle East war risk

Summary by Reuters

Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as U.S. President Joe Biden discouraged Israel from targeting Iranian oil facilities.

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The Epoch Times

US Oil Posts Biggest Weekly Gain in 2 Years Amid Middle East Tensions

Crude oil prices rallied nearly 9 percent this week, registering their best weekly performance in roughly two years amid severe geopolitical tensions in the Middle East. November West Texas Intermediate crude oil prices finished the session up $0.96, or 1.30 percent, at $74.67 per barrel. U.S. crude registered a weekly gain of 8.8 percent, the biggest weekly increase since October 2022, lifting its year-to-date gain to nearly 5 percent. Brent, t…

5 months ago·New York, United States

Oil settles up, biggest weekly gains in over a year on Middle East war risk

5 months ago·United Kingdom

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Financial Times

Oil prices mark biggest weekly rise in almost 2 years on Middle East tensions

Brent crude up almost 10% amid speculation of Israeli or Iranian strikes on energy infrastructure

5 months ago·London, United Kingdom

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Business Matters

Oil prices see biggest weekly surge in a year as middle east tensions escalate

The price of oil has surged this week, marking its largest weekly gain in over a year as investors react to escalating tensions in the Middle East. Brent crude, the international benchmark, rose 0.8% on Friday to reach $78.24, capping a 9% weekly increase and approaching the $80 mark last seen in August. West Texas Intermediate (WTI), another key benchmark, climbed 0.75% to $74.26. The sharp rise in oil prices follows heightened conflict between…

5 months ago

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Business Times

Oil settles up, biggest weekly gains in over a year on Middle East war risk

OIL prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as US President Joe Biden discouraged Israel from targeting Iranian oil facilities.

5 months ago

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mediatalkafrica.com

Petrol Price Hike Looms as Global Tensions Rise

Petrol Price Hike Looms Amid Israel-Iran Conflict Escalation As tensions escalate between Israel and Iran in the Middle East, Nigerian oil marketers are warning of a potential fresh price hike for Premium Motor Spirit (Petrol). According to Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association (PETROAN), the rising price of crude oil, [...]

5 months ago

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