Oil Prices Extend Gains on Fears of Wider Middle East Conflict

October 07, 2024, 05.04 PM
Oil Prices Extend Gains on Fears of Wider Middle East Conflict

ILUSTRASI. Oil prices extended gains on Monday, with Brent nearing $80 to build on last week's steepest weekly jump since early 2023.REUTERS/Alexander Manzyuk

Source: ReutersEditor: Herlina Kartika Dewi

OIL PRICE - LONDON. Oil prices extended gains on Monday, with Brent nearing $80 to build on last week's steepest weekly jump since early 2023, driven by fears of a wider Middle East conflict and potential disruption to exports from the major oil-producing region.

Brent crude futures rose $1.11, or 1.4%, to $79.16 a barrel by 0839 GMT. U.S. West Texas Intermediate crude futures jumped $1.28, or 1.7%, to $75.66.

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