Oil Rebound! Ready for Energy Surge?

The energy stock market has witnessed a significant surge, with the $Energy Select Sector SPDR Fund(XLE)$ surpassing its 2022 highs. The geopolitical conflicts may push oil prices higher. ------------- What's your target price for oil?

avatarTiger V
2024-10-02

Oil Prices Spike Amid Middle East Tensions: A Market in Flux

Overview Oil prices surged for a second consecutive day as escalating Middle East tensions fueled supply concerns. Iranian missile strikes on Israel and Prime Minister Netanyahu's promise of retaliation triggered sharp price movements, reflecting the heightened risk premium now attached to crude oil. West Texas Intermediate (WTI) crude rose 1.5% on the day, continuing the momentum from an earlier 5.5% jump, while Brent crude also climbed significantly. Oil Prices React to Escalating Middle East Conflict Following Iranian missile strikes that launched 200 ballistic missiles at Israel, oil prices reacted with sharp upward movements. The attacks led to an immediate rise in crude prices, with WTI futures for November delivery reaching $70.87 per barrel, up by 1.5% on the day. This comes after
Oil Prices Spike Amid Middle East Tensions: A Market in Flux
Invest in Global Markets with Tiger Brokers!
Open App