Closing price: Oil prices advanced on Monday, with operators once again believing in an Israeli response against Iran in response to the missile attack carried out by Tehran on October 1st. The price of a barrel of Brent BRENT Brent, or North Sea crude, is a variation of crude oil serving as a benchmark in Europe, listed on the InterContinentalExchange (ICE), a stock exchange specializing in energy trading. It became the first international standard for setting oil prices. from the North Sea, for delivery in December, won 1,68%has 74,29 dollars.
Le barrel of West Texas Intermediate (WTI WTI West Texas Intermediate (WTI), also called Texas Light Sweet, is a variation of crude oil that serves as a standard in setting the price of crude and as a raw material for oil futures contracts with the Nymex (New York Mercantile Exchange). ), the stock exchange specializing in energy.) American with maturity in November increased by 1,94%has 70,56 dollars.
“It’s another day of worry about the situation in the Middle East (…) and (the market) is trying to calibrate the different reactions“, commented to AFP John Kilduff, of Again Capital.
On Saturday, Israeli Prime Minister Benjamin Netanyahu accused the Lebanese pro-Iranian movement Hezbollah of attempting to assassinate him, after his private residence was targeted by a drone strike in his absence.
“Hezbollah, an ally of Iran that tried to assassinate me and my wife, made a serious mistake“Mr. Netanyahu said in a statement.”I say to the Iranians and their partners in the Axis of Evil: anyone who tries to harm the citizens of Israel will pay a high price.“
Hezbollah did not claim responsibility for the drone strike, but the Iranian mission to the UN said the Lebanese movement was behind the attack.
On Sunday evening, Lebanon’s national news agency reported several airstrikes carried out by the Israeli army in the southern suburbs of Beirut and eastern Lebanon against subsidiaries of a financial institution linked to Hezbollah.
These developments revive fears of a conflagration in the Middle East and a response by the Jewish state to the October 1 missile attack on Tehran, potentially on Iranian oil infrastructure.
“This situation is troubling for the oil market and continues, to some extent, to support prices. The risk of the situation spiraling out of control remains“, analyzed Mr. Kilduff.
The rise in black gold prices, however, remains contained by demand deemed insufficient, particularly from China, which is experiencing a slowdown in its economic growth, i.e. “a major obstacle for the market“, according to John Kilduff.
Crude imports by the People’s Republic contracted in September for the fifth month in a row year-on-year, falling by 7,4% compared to August, according to official data.
The Chinese central bank announced on Monday a cut of two benchmark interest rates to revive the country’s economic activity.
(c) AFP
Commenter Oil rises, driven by geopolitical fears
Community barrel price
