Oil settles up, biggest weekly gains in over a year on Middle East war risk
Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as U.S. President Joe Biden discouraged Israel from targeting Iranian oil facilities.
What's next for oil and gas prices as Middle East tensions heat up?
Oil prices rose than $6 per barrel (5.47 euros) this week and prices at the pump moved higher as well. The average price for a gallon of gas rose 5 cents from last week. Any major escalation of tensions in the Middle East conjures up memories of the oil embargo that followed the start of the Yom Kippur war in 1973, which quadrupled oil prices.
Bets oil will hit $100 a barrel surge on fears of wider Middle Eastern war
Options traders have made record bets that will pay off if Middle East tensions push oil toward $100 a barrel.
Oil prices set for 9% weekly gains on threat of wider war in the Middle East
Oil prices were on track for weekly gains of 9% as investors feared a wider Middle East conflict could disrupt crude flows after President Joe Biden said the United States was discussing an Israeli attack on Iranian oil facilities.
Middle East tensions drive biggest weekly oil price surge in a year
Crude oil prices see their largest weekly gain in over a year due to rising tensions between Israel and Iran-backed Hezbollah.
Oil prices set for big weekly gain as traders await Israel’s response to Iranian missile attack
Oil futures headed higher on Friday, with Brent prices on track to post a gain of more than 9% for the week, as tensions in the oil-rich Middle East continue to flare in the wake of Iran’s missile attack on Israel earlier this week.
Middle East Conflict Risks Huge Oil Rrices, Threat To US Economy
Oil prices have dropped from $92 last year to $70 recently. The Wall Street Journal speculated that Saudi Arabia might push the price to $50 in a disagreement among OPEC+ nations. Tension in the Middle East has started to reverse this trend,
Oil Moguls Emerge as Key Cash Source for Trump as Race Nears End
Oil executives have emerged as an increasingly important source of funding for Donald Trump, as industry titans open their ...
Big Oil Urges Trump Not to Gut Biden’s Climate Law
Oil companies try to persuade the former president and his Republican allies not to slash provisions of the Inflation ...
Oil Prices Shot Up This Week. How High Will They Go?
Oil markets are on edge this week as traders try to anticipate impacts on oil supplies from a potential major retaliation on ...
52-year-old worked 90-hour weeks in an oil refinery to save money for his business—now he's worth $9.5 billion
He's reportedly the country's 107th-richest person, with an estimated net worth of $9.5 billion, largely driven by his ...
$100 oil could be the October surprise no one wanted
At just $70 a barrel, US oil prices remain much closer to their 2024 lows than their highs last fall of nearly $90. The ...
Oil prices could surge 161% if Middle East conflict wipes out Iran's energy infrastructure, commodity chief says
If Iran's oil installations are taken offline, oil prices could surge over $200 per barrel, SEB's Bjarne Schieldrop said.
Oil Rise and Stronger U.S. Economy Causes Wall St Drift
Oil prices rise again as the world continues to wait to see how Israel will respond to Iran's missile attack on Tuesday.
Oil Prices Jumped at Steepest Weekly Rate in 18 Months
Oil prices' steepest weekly rise since March 2023 began when Iran's historic missile strike on Israel Tuesday rekindled fears ...
Iran's oil minister 'not worried about crisis' amid Israeli threats
Iran's oil minister Mohsen Paknejad said on Saturday that he was "not worried" amid the escalating conflict in the region, ...
Stock market today: Indexes fall, oil surges on Middle East turmoil ahead of jobs report
Indexes fell Thursday on rising risks to oil supplies amid escalating Middle East tensions and as traders braced for Friday's ...
Biden warns Israel against Iran oil strikes as war fears mount
US President Joe Biden on Friday advised Israel against striking Iran's oil facilities, saying he was trying to rally the ...