Oil swung in a turbulent session amid speculation the U.S. may join the Middle East conflict, with traders focused on flows through the region’s vital shipping chokepoint.
Oil prices extended gains on Thursday after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict and concern over its impact on oil.
European shares started the week strong, lifted by global oil gains amid Middle East conflict fears and a slew of upbeat earnings, though a drop in Reckitt tempered the rally.
Crude oil futures rose Wednesday as Federal Reserve officials indicated that interest rates have likely reached their peak
LONDON, Jan 29 (Reuters) – Oil prices dipped on Monday as China’s ailing property sector took another hit while a drone attack on U.S. forces in Jordan added to supply disruption concerns in the Middle East and Houthi militants stepped up attacks on vessels in the Red Sea.
Brent crude futures were down 0.9%, or 73 cents, to US$78.15 a barrel by 0735 GMT, while U.S. West Texas Intermediate crude futures were at US$73.43 a barrel, down 0.8%, or 64 cents