Oil settles up, biggest weekly gains in over a year on Middle East war risk

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Home Business Oil settles up, biggest weekly gains in over a year on Middle East war risk 05-10-2024 12:06 PM Ammon News - Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as U.S. President Joe Biden discouraged Israel from targeting Iranian oil facilities. Brent crude futures rose 43 cents, or 0.6%, to settle at $78.05 per barrel, while U.S. West Texas Intermediate crude futures gained 67 cents, or 0.9%, to close at $74.38 per barrel. On a weekly basis, Brent crude gained over 8%, the most in a week since January 2023. WTI gained 9.1% week-over-week, the most since March 2023. Reuters

Home Business

Oil settles up, biggest weekly gains in over a year on Middle East war risk

05-10-2024 12:06 PM

Ammon News - Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as U.S. President Joe Biden discouraged Israel from targeting Iranian oil facilities.

Brent crude futures rose 43 cents, or 0.6%, to settle at $78.05 per barrel, while U.S. West Texas Intermediate crude futures gained 67 cents, or 0.9%, to close at $74.38 per barrel.

On a weekly basis, Brent crude gained over 8%, the most in a week since January 2023. WTI gained 9.1% week-over-week, the most since March 2023.

Reuters

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