Oil jumps 4% on US storm, Israel-Iran fears

Quick Summary:

Oil prices jumped about 4% on Thursday on a spike in US fuel use before Hurricane Milton barrelled across Florida, Middle East supply risks and signs that demand for energy could grow in the US and China.

Crude benchmarks spiked earlier this month after Iran launched more than 180 missiles against Israel on Oct.1, raising the prospect of retaliation against Iranian oil facilities.

The Houthis have launched attacks on international shipping near Yemen since last November in solidarity with the Palestinians in the war between Israel and Hamas in the Gaza Strip.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaIndiaIsraelLebanonYemen

Topics: FederalReserve MiddleEastTensions FuelDemand HurricaneImpact Commodities ChinaDemand CrudeSupply EnergyMarket OilPrices /Business/

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-11 @ 06:55:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 648 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22987686

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Main Topics: EconomyBusiness

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