Oil advances on rising geopolitical tensions from Iran, Russia
Sat, Nov 23, 2024 11:56 AM

Oil advances on rising geopolitical tensions from Iran, Russia

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Oil rose as geopolitical tensions from Russia to Iran ratcheted higher while strength in equity markets increased the appeal of risk assets. WTI climbed more than 1% to settle above $71 a barrel, an increase of more than 6% for the week, while Brent settled above $75 for the first time since Nov. 7. The Russia-Ukraine conflict has rapidly intensified following months of bloody attrition.

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