{"id":109583,"date":"2024-10-02T16:56:50","date_gmt":"2024-10-02T09:56:50","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=109583"},"modified":"2024-10-02T16:56:50","modified_gmt":"2024-10-02T09:56:50","slug":"oil-prices-rise-on-escalating-attacks-in-the-middle-east","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=109583","title":{"rendered":"Oil prices rise on escalating attacks in the Middle East"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107113892\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Storage tanks and oil processing facilities operate at Saudi Aramco&#8217;s Ras Tanura oil refinery and terminal in Ras Tanura, Saudi Arabia, on Oct. 1, 2018.<\/p>\n<p>Simon Dawson | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Oil\u00a0prices rose on Wednesday on fears conflict in the Middle East could turn into a wider war and disrupt\u00a0oil\u00a0supply from the key producing region after Iran fired\u00a0ballistic missiles\u00a0at Israel.<\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/@LCO.1\/\">Brent<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>\u00a0futures rose 83 cents, or 1.13%, to $74.39\u00a0a barrel, while <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\"><a href=\"https:\/\/www.cnbc.com\/quotes\/@CL.1\/\">U.S. West Texas Intermediate crude<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>\u00a0rose 88 cents, or 1.26%, to $70.71 at 0029\u00a0GMT, coming slightly down from spiking by\u00a0more than\u00a0$1 earlier in the session.<\/p>\n<p>During trading on Tuesday, both crude benchmarks jumped more than 5%.<\/p>\n<p>Iran\u00a0fired\u00a0more than 180 ballistic missiles at Israel on Tuesday, Israel said, in retaliation for Israel&#8217;s campaign against Tehran&#8217;s Hezbollah allies in Lebanon.<\/p>\n<p>Iran, a member of the Organization of the Petroleum Exporting Countries, is a major\u00a0oil\u00a0producer in the region.<\/p>\n<p>&#8220;The direct involvement of Iran, an OPEC member, raises the prospect of disruptions to\u00a0oil\u00a0supplies,&#8221; ANZ Research said in a note, referring to the conflict.<\/p>\n<p>Iran&#8217;s\u00a0oil\u00a0output rose to a six-year high of 3.7 million barrels per day in August, ANZ added.<\/p>\n<p>Israeli Prime Minister Benjamin Netanyahu\u00a0promised\u00a0Iran would pay for its missile attack against Israel, while Tehran said any retaliation would be met with &#8220;vast destruction&#8221;, raising fears of a wider war.<\/p>\n<p>U.S. President Joe Biden expressed full U.S. support for Israel, its longtime ally, and the U.N. Security Council scheduled a meeting on the Middle East for Wednesday.<\/p>\n<p>&#8220;A major escalation by Iran risks bringing the U.S. into the war,&#8221; Capital Economics said in a note. &#8220;Iran accounts for about 4% of global\u00a0oil\u00a0output, but an important consideration will be whether Saudi Arabia increases production if Iranian supplies were disrupted.&#8221;<\/p>\n<p>A panel of ministers from the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, meets later on Wednesday to review the market, with\u00a0no policy changes\u00a0expected. From December, OPEC+, which includes Russia, is set to raise output by 180,000 barrels per day (bpd) monthly.<\/p>\n<p>&#8220;Any suggestion that production hikes will proceed could offset concerns of supply disruptions in the Middle East,&#8221; ANZ&#8217;s note said.<\/p>\n<p>U.S. stockpile data was mixed: crude\u00a0oil\u00a0and distillate inventories\u00a0fell\u00a0last week while gasoline inventories rose, market sources said, citing American Petroleum Institute figures on Tuesday.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/10\/02\/oil-prices-rise-on-escalating-attacks-in-the-middle-east.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Storage tanks and oil processing facilities operate at Saudi Aramco&#8217;s Ras Tanura oil refinery and terminal in Ras Tanura, Saudi Arabia, on Oct. 1, 2018. Simon Dawson | Bloomberg | &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=109583\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-109583","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/109583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=109583"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/109583\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=109583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=109583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=109583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}