WTI surges by 3.5% on US fears of Iran attacking Israel - Breaking The News

WTI surges by 3.5% on US fears of Iran attacking Israel

12 August

1 min read

EPA-EFE/MARK ROGERS

The prices of oil futures continued to rise on Monday after the White House expressed its concerns that Iran could attack Israel and that it could happen this week, fueling worries about the export of the commodity from the Middle East.

West Texas Intermediate (WTI) for September's settlements skyrocketed by 3.51% at 1:54 pm ET to sell for $79.48 per barrel. At that time, Brent for October's deliveries gained 2.71% to go for $81.82 per barrel.

oil

Related Stocks

Brent Crude (ICE)

F WBS

EIA: US crude inventories up by 1.7M barrels

11 hours ago

Commercial crude oil inventories in the United States, not considering those in the Strategic Petroleum Reserve (SPR), went up by 1.7 million barrels to 437.0 million barrels in the week ending March 14, the Energy Information Administration (EIA) stated in its report published on Wednesday.Oil refinery inputs averaged 15.7 million barrels per day (bpd) during the week ending March 14, decreasing by 45,000 bpd compared to the previous week's average....

US oil inventories reportedly up by 4.6M barrels

18 March

Crude oil inventories in the United States increased by 4.593 million barrels in the week ending March 18, the American Petroleum Institute's (API) private data reportedly showed on Tuesday.On the other hand, those of distillates were said to have declined by 2.146 million barrels. Gasoline stockpiles were reported to have dropped by 1.708 million barrels. Reserves in Cushing, Oklahoma, allegedly dipped by 1.41 million barrels.

Oil gains 1% amid Middle East worries

18 March

Oil prices continued to gain ground on Tuesday as the possible resurgence of Middle East conflicts sparked concerns about supply. Following the United States' strikes in Yemen and Israel's large-scale attacks on the Gaza Strip, the Yemeni militant group Houthis vowed to escalate the confrontation. The Houthis were responsible for disruptions of the Red Sea shipping route last year as they repeatedly targeted international cargo vessels.West Texas...

Novak: Global oil market is balanced

18 March

Russian Deputy Prime Minister Alexander Novak said on Tuesday that the global oil market is now balanced, following voluntary output cuts by 2.2 million barrels per day agreed upon by OPEC+. He added that the planned output increase in April will not destabilize the market and that the organization will monitor supply and demand.Novak said Russia will boost oil processing in 2025 compared to last year and estimated the oil output for this year at 515...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.