Oil prices fall, on track for weekly rise on Middle East escalation
ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountOil futures prices retreated on Friday but are still set for hefty weekly gains because of concerns about disrupted energy flows in the Red Sea and fears of further escalation in the U.S.-Israeli war with Iran. Brent futures fell US$1.82, or 1.81 per cent, to US$98.87 a barrel, having settled up 7-per-cent above US$100 in the previous session for the first time since May after Iran-aligned Houthis said they struck two Saudi oil tankers in the Red Sea. The contract remained on course for a 12-per-cent advance this week.
- ▪ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountOil futures prices retreated on Friday but are still set for hefty weekly gains because of concerns about disrupted energy flows in the Red Sea and fears of fu
- ▪Brent futures fell US$1.82, or 1.81 per cent, to US$98.87 a barrel, having settled up 7-per-cent above US$100 in the previous session for the first time since May after Iran-aligned Houthis said they struck two Saudi oil tankers in the Red
- ▪The contract remained on course for a 12-per-cent advance this week.
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Opening excerpt (first ~120 words) tap to expand
ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountOil futures prices retreated on Friday but are still set for hefty weekly gains because of concerns about disrupted energy flows in the Red Sea and fears of further escalation in the U.S.-Israeli war with Iran. Brent futures fell US$1.82, or 1.81 per cent, to US$98.87 a barrel, having settled up 7-per-cent above US$100 in the previous session for the first time since May after Iran-aligned Houthis said they struck two Saudi oil tankers in the Red Sea. The contract remained on course for a 12-per-cent advance this week.
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