View full page at energyexch.com

 

Oil climbs after drone attack in Iran, China's pledge to promote consumption

From channelnewsasia.com

Oil prices climbed in early Asia trade on Monday, supported by tensions in the Middle East following a drone attack in Iran and as Beijing pledged over the weekend to promote a consumption recovery which would support fuel demand. Brent crude futures rose 54 cents, or 0.6 per cent, to $87.20 a barrel by 0115 GMT while U.S. West Texas Intermediate crude was at $80.22 a barrel, up 54 cents, or 0.7 per cent. Israel appears to have been behind an overnight drone attack on a military factory in Iran, a U.S. official said on Sunday. "It is not really clear yet what's happening in Iran, but any escalation there has the ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis