11/13/2023, 5:02 PM (Source: TeleTrader)
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Oil erases losses, up 1% on Middle East concerns

Prices of oil futures erased previous losses and rose by as much as 1% on Monday after the United States military reported additional attacks against it in the Middle East.

In addition, the humanitarian situation in Gaza is reportedly worsening, with no ceasefire in sight to ease concerns about the local armed conflict that could spread to the rest of the region.

West Texas Intermediate (WTI) for settlements in December 2023 was up 0.87% to $77.65 per barrel and Brent for deliveries in January 2024 rose by 0.77% to $81.96 per barrel at 11:02 am ET.

Baha Breaking News (BBN) / MS