Oil prices rise by 4% amid war between Israel and Hamas – Kommersant
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Brent and WTI oil prices rise by 4% on stock exchanges. The price is rising amid the outbreak of war between Israel and the Palestinian Hamas movement.
The price of December Brent futures reached $88.99 per barrel on the London ICE exchange, but by 5:39 Moscow time it had adjusted to $87.98 (+4.02%). The price for WTI on the New York Mercantile Exchange is $86.35 (+4.3%).
ANZ Group experts Brian Martin and Daniel Hynes told AFP the key for markets is whether the conflict will remain in current territories or expand to other regions, especially Saudi Arabia. AFP also notes that the war has raised fears that the US and Iran could enter into conflict.
Last quarter oil has grown noticeably in price. Brent rose in price over three months by 23.1%, to $92.2 per barrel, WTI – by 28.5%, to $90.79 per barrel. However, in early October, the price of oil began to decline amid concerns about a possible decline in demand.
About the reasons for the fall in oil prices at the beginning of the fourth quarter – in the Kommersant FM article “Oil fluctuates between prices”.
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