Monday, 01 June 2020

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Iranian strikes in Iraq fuel oil prices Iranian strikes in Iraq fuel oil prices

Iranian strikes in Iraq fuel oil prices

The Iranian military strike on the American "Ein Al-Assad" base in Iraq caused high oil prices, after fears of a conflict disrupting oil supplies.

Brent crude futures rose $ 1.83, or 2.7%, to $ 70.10 a barrel by 01:48 GMT, after earlier increasing to $ 71.75, its highest level since mid-September 2019.

West Texas Intermediate contracts rose nearly two dollars, nearly three percent, to $ 64.30 a barrel.

And crude touched earlier $ 65.85, at its strongest price since late April of last year.

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