Oil prices jump amid US ME buildup, rising global fuel shortage fears
“Oil prices rose Thursday and settled up more than $4 a barrel,, amid news that Washington is deploying more troops and an aircraft carrier to the Middle East. Washington is sending the Theodore Rooseve…”
Washington is sending the Theodore Roosevelt Carrier Strike Group and thousands of troops to the Middle East, officials. China had also suspended oil product exports, increasing fears that global fuel shortages could worsen. Diesel and other refined products are scarce following damage to refinery infrastructure in the Gulf and Russia, Reuters reported.
The new front-month December Brent crude futures contract settled at $102.31 a barrel, up 4.37%, or $4.28. U.S. West Texas Intermediate crude futures finished at $92.87 a barrel, up 2.71%, or $2.45, the outlet reported.
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