Home » News » Oil Prices Surge Amid Israel-Palestine Conflict: Crude Oil Barrel Trading Higher in New York and London Markets

Oil Prices Surge Amid Israel-Palestine Conflict: Crude Oil Barrel Trading Higher in New York and London Markets

The barrel of crude oil was trading higher today in the international markets of New York and London in the context of the conflict between Israel and Palestine.

Oil prices rose this morning in New York and London, reversing the downward trend of the previous week, which had marked the largest percentage drop since March in those days, in a context of concern about the evolution of global demand due to the conflict in the Middle East.

West Texas Intermediate (WTI) crude oil, which operates on the New York futures market (Nymex), rose 3.43% this morning and was trading at US$85.63 a barrel in contracts for delivery in November.

Similarly, Brent oil from the North Sea, which does so in the London electronic market (ICE), rose 3.38% and a barrel was agreed at US$ 87.44 in December contracts, according to as reported by the Bloomberg agency.

Meanwhile, the Organization of Petroleum Exporting Countries (OPEC) reported that its crude oil basket closed on Friday at US$87.30 per barrel, compared to US$88.51 the previous day, which represented a decrease of 1 .37%. (Telam)

2023-10-09 12:08:20
#Oil #registers #increases #York #London

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