Energy Sector Outperforms in August as Middle East Tensions Boost Oil Prices
5 Articles
5 Articles
Iran and the US are exchanging strikes on military ships and tankers, while the clashes threaten shipping and fuel oil and fuel prices.
In commodity markets, the past week was largely driven by rising energy prices following the intensification of US attacks on Iran, increases in global bond yields, and shifting expectations regarding the Federal Reserve's (Fed) monetary policy.
Oil prices ended the week higher, reflecting a significant increase for the entire week. Brent prices rose by almost eight percent and US WTI prices by almost a tenth. The reason is renewed attacks between the US and Iran, while since the US and Israel attacked...
Renewed US-Iran Tensions Hike Oil Prices
By Adedapo Adesanya Oil prices rose on Friday, ending the week substantially higher after the United States and Iran resumed military exchanges in the seventh month of their conflict. Brent crude futures settled at $92.68 a barrel after chalking up 76 cents or 0.8 per cent, while US West Texas Intermediate (WTI) crude futures finished […]
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