Oil prices rise amid fears over escalating tensions in Middle East
Thursday, 28 December 2023 Oil prices rise in Asia due to Middle East tensions and concerns about transport disruptions on the Red Sea route. Some shipping firms are returning to the route, easing worries. However, tensions in the Middle East, particularly Iran's involvement, continue to impact the market. The market is expected to rebound in the new year, driven by expectations of a recovery in fuel demand and higher kerosene demand during winter. The Israeli military campaign in Gaza and attacks on ships in the Red Sea remain significant factors.
We look at how Israel's war on Gaza has inflamed tensions in the Middle East and threatens to pull other countries into the fighting, including the United States. The Pentagon says it has intercepted a number of drones and missiles launched by Yemen's Houthi forces — known as...
Potential 2024 OPEC , Production Cuts Cause , Brief Spike in Oil Prices.
On December 5, oil prices briefly
spiked after Russia suggested
continued OPEC production cuts in 2024.
Markets Insider..
Credit: Wibbitz Top Stories Duration: 01:31Published
Oil prices stabilised as major shippers resumed passage through the Red Sea despite attacks and Middle East tensions. Brent crude futures down at $80.90 a barrel... IndiaTimes
Oil prices rise on uncertainty over voluntary output cuts by OPEC+ group, Middle East tensions, and positive economic signals in Europe. Saudi Arabia's energy... IndiaTimes
Thursday, 28 December 2023
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