Oil gains on reports Iran preparing Israel attack

Quick Summary:

Oil prices extended gains after settlement on Thursday, rising by more than US$2 per barrel on a report that Iran is preparing to attack Israel from Iraqi territory in the coming days.

Brent crude futures settled up 61 cents, or 0.84%, to US$73.16 a barrel.

"Several international events have converged at the turn of the month that could see oil markets in for a bumpy ride in early November," said Rystad Energy's Sahdev, citing the U.S.election, a continually weak Chinese demand outlook, Opec+ uncertainty and the war in the Middle East.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaIraqIsrael

Topics: OilPrices IranIsraelTensions WTICrude MiddleEastConflict Commodities BrentCrude /Business/ OPECPlus

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 07:26:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 457 words

Reading Time: 3 minutes read

Sentences: 21 lines

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Copyright Owner: © The Star

News ID: 23356851

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