Oil Climbs in Post-Settlement Trading as Middle East Conflict Escalation Fears Return

Deep News04:20

Oil prices rose in post-settlement trading amid Middle East supply risks and renewed concerns about escalating conflict.

Brent crude settled around $109 per barrel and climbed to roughly $110 per barrel in post-settlement trading.

Citing three U.S. officials, reports said the State Department is preparing to order the evacuation of some U.S. personnel and family members from the Gulf region.

Meanwhile, the official Saudi Press Agency reported that a drone attack on an oil field operated by Saudi Aramco killed two people.

Crude has risen about 80% this year amid disruptions to shipping through the Strait of Hormuz and Ukrainian strikes on Russian refineries, with refined products such as diesel posting even larger gains.

Brent for December delivery was little changed, settling at $108.82 per barrel; as of 3:09 p.m. New York time, the price rose to $110.33 in post-settlement trading; WTI fell 4.6%, settling at $97.15 per barrel; as of 3:09 p.m. New York time, the price rose to $98.41 in post-settlement trading.

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