Oil prices were volatile today, Friday, amid renewed threats of supply disruptions, with Israel and Lebanon’s Hezbollah group exchanging accusations of breaching the ceasefire at the same time. to cancel the OPEC + meeting, which left investors in doubt waiting for the agreement of the alliance. decision regarding production policy.
Brent crude futures fell seven cents, or 0.1 percent, to $73.21 a barrel by 02:32 GMT, while US West Texas Intermediate crude futures rose 38 cents, or 0.55 percent, from Wednesday’s close , to $69.10.
Trading remained light due to the Thanksgiving holiday on Thursday, which led to the closure of US financial markets.
Israel and the Hezbollah group from Lebanon reported accusations yesterday, Thursday, about breaking the ceasefire that came into effect the day before. The agreement appeared to reduce the potential for supply disruptions due to a wider conflict, concerns that have already heightened the risk of oil prices.
Oil supplies from the Middle East have been largely affected by Israel’s conflict with both Hezbollah in Lebanon and the Palestinian Islamic Resistance Movement (Hamas) in Gaza.
Yesterday, Thursday, Russia attacked Ukraine’s energy resources for the second time this month. Analysts at ANZ said the attack could be met with retaliation that would affect Russian oil supplies.
The OPEC+ alliance, which includes the countries of the Organization of the Petroleum Exporting Countries and allies including Russia, postponed its next meeting regarding production policy until December 5, after it had been to be registered on the first day of the following month. The meeting is expected to extend the federation’s production cuts.
The International Atomic Energy Agency said Thursday that Iran had told them it would install more than six thousand additional centrifuges for uranium enrichment in its facilities.
2024-11-29 04:02:00
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