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Oil Prices Surge as Markets Digest Iran News


Monday, 6 January 2020 19:53 WIB

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Oil prices surged and stock markets in Asia and Europe fell on Monday, as the impact of the American killing of a powerful Iranian general on Friday ricocheted around the world.

The price of Brent oil, the international benchmark, jumped above $70 in futures trading as markets digested a steady flow of news over the weekend. It fell back below that level, to $69.92 a barrel, when markets opened in Europe, though the price was still about 5 percent higher than before the killing last week.

The sudden escalation in tensions in a region that supplies much of the world's petroleum has roiled oil markets. The West Texas Intermediate, the American oil benchmark, rose 1.6 percent to $64.04 a barrel in futures trading.

Source : Bloomberg


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