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International oil prices rose yesterday, driven by geopolitical risk in the region. Gazawith fears of an escalation in the conflict in Middle East, and also by the military actions between Russia y Ukraine.
In London, the price of a barrel of North Sea Brent for delivery in October rose again well above $80, trading at $82.30, up 3.31% and a nearly three-week high.
In turn, in New York, the barrel of West Texas Intermediate (WTI), for delivery in the same month, rose 4.19% to $80.06.
Prices are rising “due to the intensification of military preparations in the Middle East,” said Claudio Galimberti of Rystad Energy.
“Geopolitical turmoil, particularly in Middle East, will fuel market volatility,” he warned.
Geopolitical tensions have risen following Iran’s promise to retaliate against Israel “for the assassination of a Hamas leader in Tehran late last month,” the analyst said.
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2024-08-16 12:28:31