Oil extended firming trend on nagging Middle East concerns.
International benchmarks for crude oil continued to climb higher on Thursday, 19 October 2023 on lingering concerns that the Israel – Hamas conflict could escalate to regional issues.
International benchmarks for crude oil continued to climb higher on Thursday, 19 October 2023 on lingering concerns that the Israel – Hamas conflict could escalate to regional issues. Supporting the prices were also the large fall in US fuel inventories and a signal from the FED on possible stabilizing interest rates.
Brent for December delivery added 1% or 88 cents to close at $92.38/barrel.
WTI for November gained 1.2% or $1.05 to settle at $89.37/barrel.