PT Solid Gold Berjangka | Oil Prices Rise Over $1 On Mounting Concerns Over Middle East Supply
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Solid Gold Berjangka | Oil prices rose early in Asian trade.It reversed losses in the previous session as fears that an escalating Middle East conflict could hit supply outweighed fears of a U.S. recession that could hurt global oil consumer demand.
Several U.S. officials were injured in an attack on an Iraqi military base, a U.S. official told Reuters, citing growing regional concerns following last week’s killings of senior members of the militant groups Hamas and Hezbollah.
U.S. West Texas Intermediate crude oil futures were up11.18, or 1.6 percent, to774.12 per barrel atã‚¢1022 gmt, or early trade in Asia.
On Monday, wti and Brent benchmarks fell 0.7-0.8 percent as a continued sell-off in global stock markets. The oil slide was limited by worries that Iran might lead to a wider war in the Middle East, which would retaliate for the assassination of the Hamas leader in Tehran.
On Monday, Putin’s senior allies arrived in Tehran for talks with Iranian leaders, including the president and top security officials, as the Islamic Republic weighed its response to the murder of the Hamas leader.
3 (upi)3 Israeli Prime Minister Benjamin Netanyahu is facing anger both inside and outside Israel over his handling of the Gaza cease-fire negotiations as fears grow that the crisis could spiral into war with Iran, Israeli officials said.
Source: Reuters