Oil climbs as Gaza tensions rise, Saudi Arabia hikes prices
Monday, 6 May 2024 () Oil futures rose on Monday following an increase in June crude prices by Saudi Arabia for most regions. There are concerns that the Israel-Hamas conflict could escalate further in the important oil-producing region due to slim chances of a Gaza ceasefire agreement. Brent crude futures increased by 77 cents, or 0.9%, to reach $83.73 per barrel at 1055 GMT.
Amid rising tensions, Saudi Arabia issues a stern warning to Israel against conducting a ground operation in Rafah City, Gaza. Israeli forces take control of Gaza's Rafah crossing with Egypt, leading to reports from Palestinians of extensive overnight attacks by the Israeli Air Force. The IDF...
In the latest escalation, Yemen's Houthi rebels strike once more, damaging an oil tanker and downing a US drone amid tensions over Israel's offensive in Gaza. Stay updated with the latest developments..
Oil prices surged by more than four percent on Friday following Israel's missile strikes on Iran, amplifying concerns of heightened tensions in the West Asia region. The global benchmark, Brent crude,..
IMF Warns of Broad Global Impact, Due to Conflict in the Middle East.
According to 'The Guardian,' the International Monetary
Fund recently highlighted the risks of escalating
conflict in the Middle..
Credit: Wibbitz Top Stories Duration: 01:31Published
Monday, 6 May 2024 ()
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