Oil rebounded as Middle East concerns returned.
International benchmarks for crude oil rebounded nearly 3% on Friday, 27 October 2023 to a one-week high as the Israel – Hamas tension heightened.
International benchmarks for crude oil rebounded nearly 3% on Friday, 27 October 2023 to a one-week high as the Israel – Hamas tension heightened. On the previous day, Israel declared a ground invasion of Gaza.
Brent rose $2.55 or 2.9% to close at $90.48/barrel.
WTI added $2.33 or 2.8% to close at $85.54/barrel.