• Sat, Feb 28, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

18 September 2024 02:45  |

Oil Futures Rise on Renewed Middle East Tensions

Crude futures gain with renewed Middle East tensions adding to expectations that a Fed interest-rate cut this week could support demand for oil.

Thousands were injured in Lebanon when pagers used by Hezbollah operatives exploded in what Hezbollah and Lebanese officials said was an attack by Israel.

On the macro front, U.S. retail and industrial production data for August came in above expectations. Most of the offshore production shut in last week by Hurricane Francine had been restored, with 102,000 barrels a day of oil and 180 million cubic feet a day of natural gas still offline, according to the Bureau of Safety and Environmental Enforcement. WTI settles up 1.6% at $71.19 a barrel, and Brent rises 1.3% to $73.70 a barrel.

Source : Dow Jones Newswires

 

Related News

OIL

WTI Crude Oil Rises Off an 18-Month Low as Tropical Storm F...

West Texas Intermediate (WTI) crude oil closed higher on Monday, climbing off an 18-month low on dip buying and the formation...

10 September 2024 02:06
OIL

Crude Extends Losses on Prospects of Higher Supply

Oil prices add to the previous day's heavy losses as the market shrugs off delegate comments that OPEC+ is considering a dela...

5 September 2024 02:18
OIL

Oil Climbs Ahead of Fed Decision But Demand Concerns Persist

Oil edged higher as a widely expected interest-rate cut by the Federal Reserve this week offset concerns about the deman...

17 September 2024 12:06
OIL

Oil Dips as Weak Chinese Demand Counters Storm Francine

Oil prices gave up the previous day's gains on Tuesday as weak Chinese demand offset U.S. supply disruptions from Tropical St...

10 September 2024 17:22
BIAS23.com NM23 Ai