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Oil prices jump again on worries about Middle East
Oil settles up, biggest weekly gains in over a year on Middle East war risk
Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as U.S. President Joe Biden discouraged Israel from targeting Iranian oil facilities.
What's next for oil and gas prices as Middle East tensions heat up?
Oil prices rose than $6 per barrel (5.47 euros) this week and prices at the pump moved higher as well. The average price for a gallon of gas rose 5 cents from last week. Any major escalation of tensions in the Middle East conjures up memories of the oil embargo that followed the start of the Yom Kippur war in 1973, which quadrupled oil prices.
Oil prices could surge 161% if Middle East conflict wipes out Iran's energy infrastructure, commodity chief says
If Iran's oil installations are taken offline, oil prices could surge over $200 per barrel, SEB's Bjarne Schieldrop said.
Oil Surges
Iran's oil minister 'not worried about crisis' amid Israeli threats
Iran's oil minister Mohsen Paknejad said on Saturday that he was "not worried" amid the escalating conflict in the region, the ministry's Shana news site said, after reports that Israel may strike Iran.
Oil Prices Jump After Biden Says ‘Discussing’ Israeli Strike on Iranian Facilities
The president was asked about a potential strike on the oil infrastructure of Iran, which accounts for about 2 percent of the world’s supply.
Oil Surges After Biden Says U.S. Discussing Israel Attack on Iran Facilities
A calm 2024 for petroleum prices has given way to bets that a spike in energy prices could follow.
1h
on MSN
52-year-old worked 90-hour weeks in an oil refinery to save money for his business—now he's worth $9.5 billion
He's reportedly the country's 107th-richest person, with an estimated net worth of $9.5 billion, largely driven by his ...
2d
$100 oil could be the October surprise no one wanted
At just $70 a barrel, US oil prices remain much closer to their 2024 lows than their highs last fall of nearly $90. The ...
18h
Oil Prices Jumped at Steepest Weekly Rate in 18 Months
Oil prices' steepest weekly rise since March 2023 began when Iran's historic missile strike on Israel Tuesday rekindled fears ...
22h
on MSN
Satellite imagery shows Iranian oil tankers at country’s major terminal disappearing amid fears of Israeli counterattack
Fifteen miles off Iran's northwestern coast, the Kharg Island terminal handles more than 90% of the country's crude exports.
Scientific American
4h
Challenging Big Oil’s Big Lie about Plastic Recycling
This legal action sets a precedent for other state attorneys general to follow. As the litigation piles up on big oil for ...
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