Oil Set for Weekly Gain as Israel Plans Response to Iran Attack

(Bloomberg) — Oil headed for a second weekly gain — after surging by more than 3% on Thursday — as Israel readied plans to retaliate against Iran, raising the specter of disruptions to crude supplies from the Middle East.

Most Read from Bloomberg

West Texas Intermediate steadied near $76 a barrel, on course for a increase of almost 2% this week, while Brent settled at above $79. Israeli Prime Minister Benjamin Netanyahu’s security cabinet met on Thursday to discuss how and when the country was going to respond to Iran’s recent missile attack.

The global crude market has zeroed in on potential supply risks this month following the latest escalation in Middle East tensions. While US President Joe Biden has counseled against an attack on energy facilities in the third-largest OPEC producer, the possibility remains, putting investors on edge.

To get Bloomberg’s Energy Daily newsletter into your inbox, click here.

Most Read from Bloomberg Businessweek

©2024 Bloomberg L.P.

  • Related Posts

    Oil prices steady as Russia, Iran tensions fuel supply fears

    News Today's news US Politics World Tech Reviews and deals Audio Computing Gaming Health Home Phones Science TVs Climate change Health Science 2024 election Originals The 360 Newsletters Life Health…

    US plans to reduce Intel’s $8.5 billion federal CHIPS grant below $8 billion: New York Times

    News Today's news US Politics World Tech Reviews and deals Audio Computing Gaming Health Home Phones Science TVs Climate change Health Science 2024 election Originals The 360 Newsletters Life Health…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Dow Jones Today: Stock Futures Rise as Major Indexes Near Record Highs

    • By admin
    • November 25, 2024
    • 1 views
    Dow Jones Today: Stock Futures Rise as Major Indexes Near Record Highs

    Oil prices steady as Russia, Iran tensions fuel supply fears

    • By admin
    • November 25, 2024
    • 4 views
    Oil prices steady as Russia, Iran tensions fuel supply fears

    US plans to reduce Intel’s $8.5 billion federal CHIPS grant below $8 billion: New York Times

    • By admin
    • November 25, 2024
    • 1 views
    US plans to reduce Intel’s $8.5 billion federal CHIPS grant below $8 billion: New York Times

    Oil Edges Lower After Surging Last Week on Geopolitical Risks

    • By admin
    • November 25, 2024
    • 4 views
    Oil Edges Lower After Surging Last Week on Geopolitical Risks

    Gold Tumbles as Traders Turn Attention to the Fed’s Next Move

    • By admin
    • November 25, 2024
    • 4 views
    Gold Tumbles as Traders Turn Attention to the Fed’s Next Move

    Private Credit, Fed Put Are Crushing Junk Spreads, Marty Fridson Says

    • By admin
    • November 25, 2024
    • 4 views
    Private Credit, Fed Put Are Crushing Junk Spreads, Marty Fridson Says