WTI crude oil broke above local highs set in the second half of September today and is breaking above $72 per barrel, after Israel vowed to retaliate against the firing of some 200 ballistic missiles (including hypersonics) from Iran, raising the risk for oil supplies from the region.
The rise in oil prices reflects investors pricing in a renewed risk premium for the world’s most important commodity, given that the Middle East accounts for about a third of global supplies.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
WTI crude oil is breaking above local highs set in September this year. A key aspect that could define whether oil can extend its gains is the holding of the aforementioned $72 zone, which forms a short-term control point for bulls and bears. Source: xStation
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
