Crude oil prices jumped at the end of Friday trading by about $5 per barrel in futures contracts, reaching about $91 per barrel, and gold also rose by 3.2% to reach the level of $1,929 per ounce, in light of the escalation of the crisis in the Middle East as Israel continues its intense bombing. on the Gaza Strip, leaving hundreds of martyrs and thousands wounded, and international officials warned of the continued rise in oil prices.
At the end of Friday’s trading in global oil markets, Brent crude futures, the European standard, rose $4.89, or 5.69%, to $90.89 per barrel upon settlement.
US West Texas crude futures also rose $4.78, or 5.77%, to reach $87.69 per barrel upon settlement.
Gold also continued to achieve gains, as it rose in spot transactions on Friday by 3.2%, reaching about $1,929 per ounce, achieving the largest weekly gain since last March.
This comes in light of warnings of the continued rise in global oil prices if the crisis expands in the Middle East and Israel continues to target civilians in the Gaza Strip.
In Tehran, the Iranian Oil Ministry’s Shana news agency quoted Iranian Oil Minister Jawad Ochi as expecting oil prices to reach $100 per barrel due to the current situation in the Middle East.
For her part, Indian Finance Minister Nirmala Sitharaman expressed her country’s concern about the impact of the current crisis in the Middle East on fuel prices. This came within the framework of the Minister’s clarification of the details of the discussions held by senior financial officials of the G20 in Marrakesh, Morocco.
The Indian minister said, “The recent crisis in the Middle East and the concern over fuel shortages are concerns that many countries have and have also expressed.”
The Indian minister’s statements came on the sidelines of the annual meetings of the International Monetary Fund and the World Bank, currently being held in Marrakesh, Morocco.
Two days ago, French Economy Minister Bruno Le Maire warned that the current war between Israel and the Palestinians poses a threat to the global economy.
He said, “We currently have a geopolitical risk, which is the risk of the conflict in Israel spreading to the region as a whole, and this is a fundamental risk to the global economy,” noting that the consequences of the conflict in the Middle East will be “heavy” on growth and energy prices in the world.
For his part, Japanese Finance Minister Shunichi Suzuki expressed his concern about the escalating conflict between Israel and the Palestinian resistance after the “Al-Aqsa Flood” operation.
He said that many participants in the G7 financial leaders’ meeting in Marrakesh, Morocco, expressed their concern about the escalating conflict between Israel and the Palestinian resistance.
At dawn last Saturday, the Palestinian resistance in Gaza was launched – led by… Al-Qassam Brigades– practical “Al-Aqsa flood“In response to the occupation’s continuing attacks against the Palestinian people, their property and their sanctities, especially Al-Aqsa Mosque, while Israel launched Operation Iron Swords and continues to launch intensive raids on the Gaza Strip, which it has imposed a siege on since 2006.
2023-10-14 10:56:47
#Oil #continues #rise #warning #issued #exceeding #Gaza #crisis #worsens
