Oil retreats as investors pare bets on Middle East war risk after sharp rally

Top Stories
Most Popular

Panorama

80-year-old woman reaches finals for Miss Universe South Korea

Survivor of rare Rapid-Ageing disease progeria dies at 28

Two asteroids to fly by earth

Doctor linked to death of 'Friends' star Matthew Perry pleads guilty

SpaceX capsule for stuck astronauts docks at space station

A lost cat’s mysterious 2-month, 900-mile journey home to California

Japanese fans bid farewell to beloved panda pair before their return to China

Dye leak turns water bright green in Sydney Harbour at Kirribilli

An asteroid will soon enter Earth's orbit as a temporary 'mini-moon'

Mysterious 18th century diamond necklace set for auction

Home Business Oil retreats as investors pare bets on Middle East war risk after sharp rally 08-10-2024 10:11 AM Ammon News - Oil prices fell more than $1 a barrel on Tuesday as traders took profits from a rally in the previous session that lifted the market to its highest level in over a month on fears the Middle East could be on the brink of a region-wide war. Brent crude futures fell $1.31, or 1.6%, to $79.62 per barrel at around 0600 GMT. U.S. West Texas Intermediate futures fell $1.29, or 1.7%, to $75.85 a barrel. Both contracts rose more than 3% on Monday to their highest levels since late August, adding to last week's rally of 8%, the biggest weekly gain in over a year, on concerns that escalating hostilities could disrupt oil supply from the Middle East. Reuters

Home Business

Oil retreats as investors pare bets on Middle East war risk after sharp rally

08-10-2024 10:11 AM

Ammon News - Oil prices fell more than $1 a barrel on Tuesday as traders took profits from a rally in the previous session that lifted the market to its highest level in over a month on fears the Middle East could be on the brink of a region-wide war.

Brent crude futures fell $1.31, or 1.6%, to $79.62 per barrel at around 0600 GMT. U.S. West Texas Intermediate futures fell $1.29, or 1.7%, to $75.85 a barrel.

Both contracts rose more than 3% on Monday to their highest levels since late August, adding to last week's rally of 8%, the biggest weekly gain in over a year, on concerns that escalating hostilities could disrupt oil supply from the Middle East.

Reuters

no comments

Notice

All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.

name : *
email
	show email
comment : *
Verification code :	Refresh write code :