The price of Petroleum Texas Intermediate (WTI) rose 4.3% this Monday and closed at US$86.38 a barrel, driven by fear that the conflict between Israel and Hamas will spread to the Middle East and affect the energy market.
At the close of operations on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in November added US$3.59 compared to the previous day.
Oil prices have been rising in international markets following Saturday’s surprise attacks by Palestinian militias led by the Islamist group Hamas from Gaza against Israel, which have led to a new war between the two sides.
Analysts point out that neither Israel nor the Palestinian territories are significant oil producers and anticipate a temporary effect of the conflict on energy markets, although there are concerns that the conflict will gain scale regionally.
Iran has denied its involvement in the Hamas attacks this Monday through a letter from its UN mission, but analysts point out that if the country is involved in the conflict there is a greater chance that the US will impose sanctions. , with its consequent effect on the market.
Last week, there was an almost 9% drop in the price of a Texas barrel due to doubts about demand, despite the fact that the global supply remains small.
On the other hand, this Monday the futures contracts of natural gas for November they rose 0.04 points, to US$3.38, and those of gasoline maturing the same month rose 0.05 points, to US$2.24.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
