European crude was trading at $88.99 in electronic trading at 01:08 GMT – up 5.23% from Friday’s close – although the gain later moderated to reach $87.45 at 06:15 GMT, a increase of 3.4%.
He price of the barrel of Brent oil for delivery in December has risen more than 5% next Monday on the London futures market, as investors fear a supply shortage as a result of the conflict in the Middle East.
European crude was trading at $88.99 in electronic trading at 01:08 GMT – up 5.23% from Friday’s close – although the gain later moderated to reach $87.45 at 06:15 GMT, a increase of 3.4%.
The striking increase last morning is a response to the conflict that arose after the crisis heart attack last Saturday Hamas to Israelanalysts emphasize.
Although neither Israel nor Palestine are producing countries, a Hamas spokesperson told the BBC that this was the case Supporting Iranwhatever it is, which Tehran has denied.
Source: EITB
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