Price action
Crude futures fell Brent Seven cents, or 0.1 percent, to $73.21 a barrel by 0232 GMT, while U.S. West Texas Intermediate crude futures rose 38 cents, or 0.55 percent, from Wednesday’s close to $69.10, according to Reuters data.
Trading remained light due to the Thanksgiving holiday on Thursday, which led to the closure of US financial markets.
Oil supplies from the Middle East have been largely affected by Israel’s conflict with both Hezbollah in Lebanon and 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 on production policy until December 5, after it was register 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.
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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 wider conflict, concerns that have already led to higher risk premiums. Oil.
Price action
Crude futures fell Brent Seven cents, or 0.1 percent, to $73.21 a barrel by 0232 GMT, while U.S. West Texas Intermediate crude futures rose 38 cents, or 0.55 percent, from Wednesday’s close to $69.10, according to Reuters data.
Trading remained light due to the Thanksgiving holiday on Thursday, which led to the closure of US financial markets.
Oil supplies from the Middle East have been largely affected by Israel’s conflict with both Hezbollah in Lebanon and 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 on production policy until December 5, after it was registration 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 03:40:00
#Oil #prices #fluctuated #exchange #accusations #violating #ceasefire #Israel #Hezbollah
