Oil falls 6% on reduced risk of wider Middle East war

Quick Summary:

HOUSTON :Oil prices tumbled 6 per cent on Monday, or more than $4 a barrel, after Saturday's retaliatory strike by Israel against Iran's military bypassed oil and nuclear facilities, not disrupting energy supplies.

Brent futures settled at $71.42 a barrel, down $4.63 or 6.09 per cent.WTI U.S.

Tudor, Pickering Holt analyst Matt Portillo said WTI could trade much lower in the coming year.

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Article Details

Category: EconomyBusiness

Markets: SingaporeIsrael

Topics: Brent Futures Israel Lower Monday 2024 Barrel Opec+ Cent Iran Attack

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 17:47:25 (3 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 435 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23296780

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