PT Solid Gold Berjangka | Oil Rises Ahead of Key Central Bank Meetings Aamid Heightened Mideast Tensions

04:52 31 October in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

Solid Gold Berjangka | Oil prices rose in early Asian trade on Tuesday ahead of global central bank meetings and as tensions in the Middle East remained high.

Brent crude futures rose 46 cents, or 0.53%, to $87.91 a barrel by 0001 GMT while U.S. West Texas Intermediate crude climbed 33 cents, or 0.4%, to $83.64 a barrel.

Oil fell more than 3% on Monday as Israel’s attacks on Gaza escalated although fears eased that the Israel-Hamas war would disrupt supply from the region.

Israeli troops and tanks attacked Gaza’s main northern city from the east and west on Monday, three days after it began ground operations in the Palestinian enclave.

Traders were also keeping a close eye on global monetary policy, with rate-setting meetings of major central banks scheduled for this week.

The Bank of Japan (BOJ) will be the first with its meeting on Tuesday where it is likely to revise up its inflation forecasts and discuss further tweaks to its bond yield curve control (YCC).