Oil trades at two-month high ahead of peak driving season

Quick Summary:

In the options market, traders have built up bets on oil rising further if it breaks through the $90-a-barrel mark.

Other factors playing into rising prices include concerns over a potential escalation in the conflict between Israel and Hizbollah.

Oil is trading at around a two-month high, as refineries gear up for the summer driving season and traders fret over renewed tensions in the Middle East.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Malcolm Moore

Category: MarketsFinanceInvesting

Markets: United StatesIraqIsraelMexicoSaudi Arabia

Topics: June Financial Year Travel Higher Energy Rising Holiday Production Summer Crude

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-03 @ 10:50:35 (2 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 470 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 25 words per sentence (average)

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

Copyright Owner: © Financial Times

News ID: 21470741

View Article Analysis

About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 7 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 15 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #3

Publisher Details

Frequently Asked Questions