Oil futures finished higher on Friday finding support as the Israeli army’s ground forces expanded their activity in the Gaza Strip, according to CNBC. However, prices still ended lower than a week ago.
“Short of a widespread war, geopolitical posturing is falling on deaf ears and traders aren’t giving it much credence,” said Manish Raj, managing director at Velandera Energy Partners. December West Texas Intermediate crude CLZ23, +2.15% rose $2.33, or 2.8%, to settle at $85.54 a barrel on the New York Mercantile Exchange. Prices for the front-month contract lost 2.9% for the week after settling Thursday at the lowest since Oct. 12, according to Dow Jones Market Data.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. is set to play tug of war with OPEC+ for oil market share as Middle East hostilities warrant output boostMyra P. Saefong, assistant global markets editor, has covered the commodities sector for MarketWatch for 20 years. She has spent the bulk of her years at the company writing the daily Futures Movers and Metals Stocks columns and has been writing the weekly Commodities Corner column since 2005.
Source: MarketWatch - 🏆 3. / 97 Read more »
Natural-gas futures extend gains after EIA reports a smaller-than-expected weekly rise in U.S. suppliesMyra P. Saefong, assistant global markets editor, has covered the commodities sector for MarketWatch for 20 years. She has spent the bulk of her years at the company writing the daily Futures Movers and Metals Stocks columns and has been writing the weekly Commodities Corner column since 2005.
Source: MarketWatch - 🏆 3. / 97 Read more »
4 reasons why oil prices have only seen a modest Middle East risk premiumMyra P. Saefong, assistant global markets editor, has covered the commodities sector for MarketWatch for 20 years. She has spent the bulk of her years at the company writing the daily Futures Movers and Metals Stocks columns and has been writing the weekly Commodities Corner column since 2005.
Source: MarketWatch - 🏆 3. / 97 Read more »
U.S. oil futures settle at their lowest in 2 weeksMyra P. Saefong, assistant global markets editor, has covered the commodities sector for MarketWatch for 20 years. She has spent the bulk of her years at the company writing the daily Futures Movers and Metals Stocks columns and has been writing the weekly Commodities Corner column since 2005.
Source: MarketWatch - 🏆 3. / 97 Read more »
Gold prices top $2,000 in electronic tradingMyra P. Saefong, assistant global markets editor, has covered the commodities sector for MarketWatch for 20 years. She has spent the bulk of her years at the company writing the daily Futures Movers and Metals Stocks columns and has been writing the weekly Commodities Corner column since 2005.
Source: MarketWatch - 🏆 3. / 97 Read more »