Oil settles up, weekly gain 4% as investors weigh Middle East risk and US election
Oil prices settled higher on Friday and gained 4 Percent on the week, with investors taking stock of the ongoing conflict in the Middle East as well as the U.S. election next month.
Brent crude futures settled up $1.67, or 2.25 Percent, at $76.05 a barrel. U.S. West Texas Intermediate crude settled up $1.59, or 2.27 Percent, to $71.78.
Brent settled 4 Percent up on the week, while WTI settled 3.7 Percent higher on the week.
«Really it seems like the market is bouncing around in a holding pattern till we get an answer to some of these questions on Israel, the war and the election,» said Phil Flynn, senior analyst at Price Futures Group.
«The election is creating uncertainty in a lot of markets and people are pulling in their horns a little bit, not ready to be making big commitments because of the potential for spikes, volatility and uncertainty,» Flynn added.
Stock Trading
Stock Markets Made Easy
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities
Stock Trading
Derivative Analytics Made Easy
By — Vivek Bajaj, Co Founder- Stockedge and Elearnmarkets
Stock Trading
A2Z of Stock Trading — Online Stock Trading Course
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
RSI Trading Techniques: Mastering the RSI Indicator
By — Dinesh
