Oil rises on risk of broadening Middle East conflict

Quick Summary:

SINGAPORE: Oil prices rose on Thursday, extending gains from the previous session, after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict and concern over its impact on oil.

Also pushing up prices was a set of data releases from the U.S., the world's biggest oil consumer, and a weaker dollar.

Dhar said markets will be worried about Iran's ability to escalate tension via its control of the Strait of Hormuz.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaIsraelLebanonSingapore

Topics: /Business/Business News Middle East Energy WTI Brent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 16:45:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 467 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 24 words per sentence (average)

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

Copyright Owner: © The Star

News ID: 21884004

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 47 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 46 minutes ago

Coverage Areas: Malaysia

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Publisher ID: #22

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