Persistent Middle East Conflict Drives Over 4% Surge in Global Oil Prices on 17th

Deep News

07/18

Ongoing military tensions in the Middle East fueled a significant rise in international crude futures during trading on the 17th, with prices closing up more than 4%. The benchmark New York crude contract surpassed $80 per barrel for the first time in a month.

At the close of trading, the August delivery contract for West Texas Intermediate (WTI) crude on the New York Mercantile Exchange increased by $3.54 to settle at $82.49 per barrel, marking a gain of 4.48%. Concurrently, the September delivery contract for Brent crude on the London market rose by $3.87 to finish at $88.10 per barrel, representing an increase of 4.59%.

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The benchmark New York crude contract surpassed $80 per barrel for the first time in a month.<br><br>At the close of trading, the August delivery contract for West Texas Intermediate (WTI) crude on the New York Mercantile Exchange increased by $3.54 to settle at $82.49 per barrel, marking a gain of 4.48%. 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