Against the background of the escalation of tensions in the Middle East, on Wednesday, October 18, oil prices rose.
As of Reuters, the price changed after hundreds of people were killed in an explosion at a hospital in Gaza, raising fears of possible disruptions to oil supplies from the region.
Brent crude futures rose $1,75, or 2%, to $91,65 a barrel at 06:09 GMT. West Texas Intermediate (WTI) crude futures rose $1,91, or 2,2%, to $88,57 a barrel.
Both benchmarks rose more than $2 in early trading to hit two-week highs.
According to the materials Investing, the price of benchmark Brent oil as of 10:05 a.m. Kyiv time was $91,45 per barrel. The price of WTI oil on October 18 as of 10:07 a.m. Kyiv time was $87,09 per barrel.
“Markets factored in risk premiums after an October 17 blast at a Gaza hospital killed around 500 Palestinians, which Israeli and Palestinian officials blamed on each other. After that, Jordan canceled the summit with the participation of US President Joe Biden, Egyptian and Palestinian leaders. - said in the Reuters material.
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