Written by FXStreet
Reviewed by FXStreet
Written by FXStreet
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – gains strong positive traction during the Asian session on Wednesday, snapping a three-day losing streak to an over two-week low touched the previous day.
Oil prices remain depressed on Tuesday, as hopes of a new round of peace talks between the US and Iran boosted hopes of a de-escalation of the Middle East conflict.
Gold price (XAU/USD) loses ground after registering gains in the previous day, trading around $4,050 per troy ounce during the Asian hours on Tuesday.
Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.
WTI climbs above $87.00 as Middle East conflict threatens key choke pointsWest Texas Intermediate (WTI) oil price extends gains for the fifth consecutive day, trading around $87.30 per barrel during the Asian hours on Thursday. Crude oil prices surged as escalating Middle East tensions stoked fears of widespread supply disruptions.
West Texas Intermediate (WTI) oil price extends gains for the fifth consecutive day, trading around $87.30 per barrel during the Asian hours on Thursday. Crude oil prices surged as escalating Middle East tensions stoked fears of widespread supply disruptions.