Oil prices extended gains on Thursday after big increases in the previous session amid reports of action against ships by both Iran and the US and stalled peace talks.
Investors must prepare now for higher interest rates due to the escalating Iran conflict, warns the CEO of one of the world’s largest independent financial advisory organisations.
Oil prices rose on Wednesday (October 7), with Brent crude futures climbing 93 cents, or 0.92 per cent, to $101.51 a barrel. US West Texas Intermediate (WTI) crude futures also gained 82 cents, or 0.92 per cent, to reach $90.25 a barrel.
Oil prices edged lower in early Asian trading on Tuesday (October 6), with Brent crude futures slipping 4 cents to $100.28 a barrel, while US West Texas Intermediate crude futures fell 11 cents, or 0.1%, to $89.33 a barrel.
Oil prices rose on Monday (October 5), supported by renewed concerns over potential disruptions to crude supplies from the Middle East. Brent crude futures gained 81 cents, or 0.79 per cent, to reach $103.06 a barrel by 2202 GMT.
Oil prices fell on Monday (October 12), with Brent crude futures dropping $1.54, or 1.47 per cent, to $103.18 per barrel. US West Texas Intermediate (WTI) crude also declined $1.54, or 1.68 per cent, to $90.31 per barrel.
