Middle East situation causes concern! Crude oil rises more than 3% to return to $80, just achieving the largest increase in a year and a half last week.
After last week's largest weekly increase since March 2023, international oil prices rose more than 3% on Monday amidst the gunfire. Investors are closely watching Israel's next steps and Iran's reaction to it.
The Middle East conflict combined with the hurricane approaching, Brent oil rose above $80 for the first time in a month, while WTI crude oil surged over 4% at one point.
Over the weekend until Monday, Israel was successively attacked by missiles from Lebanon and Hamas. Hurricane Milton rapidly escalated to a category 5 hurricane in the Gulf of Mexico on Monday, threatening local fuel supply. The meteorological department warned that the Tampa area in Florida will face the most severe storm in over a century.
Big Oil Doesn't Want Trump to Scrap Biden's Climate Law Entirely - Report
A historic large-scale 'oil short squeeze' has just begun!
The well-known financial blog ZeroHedge stated that the historic crude oil short squeeze has just begun. Due to the historic imbalance in the market, record shorts have suddenly started seeking refuge, causing Brent crude oil prices to hit their largest increase in nearly two years.
Crude Oil Futures Stable as Hurricane Milton Spirals Toward Florida
Just now! Major news in the Middle East! Five major varieties hit the limit up, is a storm in the black series coming?
Recently, the situation in the Middle East has become more tense, and the csi commodity equity index market has also experienced big fluctuations!