Iraq has become an important swing player with big promise in the global energy market, and the widening conflict has experts worried any supply disruptions could lead to a sharp oil price spike.
That worry and concern about a wider sectarian conflict drove oil prices higher Thursday, weighed on stocks and sent buyers into bonds.
Brent futures rallied more than 3 percent, to $113.02 a barrel, the highest price since Sept. 9. WTI rose $2.13, to $106.53 per barrel. Gasoline futures jumped $0.8, to $3.08 per gallon.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015