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AMIDST an uneasy calm in the Middle East, currently the scene of unpredictable events, oil price is likely to remain volatile.
HOUSTON: Oil fell below $65 a barrel on Friday in its first weekly loss since late November, erasing the week's risk premium added since a U.S. drone strike killed a top Iranian general as investors focused on rising U.S. inventories and other signs of ample supply.
NEW YORK: Oil futures fell more than 4% on Wednesday in a wild swing, soaring close to a four-month high in early trade on an Iranian rocket attack on U.S. forces in Iraq before retreating as the countries quickly ratcheted back tensions.
SINGAPORE: Oil prices jumped back above US$70 a barrel after Iran attacked two US-Iraqi bases in its first response to the killing of its top general, before paring most of their gains as Tehran signaled the strike was over.
NEW YORK: Oil prices fell almost 1% on Tuesday, surrendering some recent gains as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed a top Iranian military commander last week.
LONDON: It’s time for some 2020 foresight in raw materials. After commodities posted a 10% advance last year, how will crude to coffee fare in the months to come?
NEW YORK/LONDON: Oil prices jumped to the highest level in more than three months on Friday after the United States killed a top Iranian military commander in Iraq, sparking fears that escalating conflict in the region could disrupt global oil supplies.
SINGAPORE: Brent crude futures jumped close to $3 on Friday to their highest since September after a U.S. air strike killed key Iranian and Iraqi military personnel, raising concerns that escalating Middle East tensions may disrupt oil supplies.
NEW YORK: Oil inched up on Thursday on rising tensions in the Middle East and signs of improving Washington-Beijing trade relations, but a strong U.S. dollar limited price gains
NEW YORK: Oil in New York capped its biggest annual increase since 2016, as Opec’s production cuts tempered supplies while a trade pact between the US and China buoyed the outlook for demand.