BZ=F News & Analysis
2 articles
Market Mood
Gas Prices Hit $4.23 Gallon as Oil Nears $110 per Barrel
Gasoline prices in the U.S. have reached an average of $4.23 per gallon, marking the highest level since July 2022, with an increase of $0.12 over the past two days. Oil prices also rose, with Brent crude trading near $110 per barrel and West Texas Intermediate approaching $105. Analysts warn that fuel costs may climb further, with predictions of prices potentially hitting the $4.30 range by May. This increase reflects ongoing tensions in the Middle East and substantial U.S. crude exports, which could impact fuel prices and market volatility.
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Oil Prices Jump 2.52% to $97.14 Amid Iran-U.S. Ceasefire Tensions
Oil prices increased Thursday, with Brent crude for June delivery rising 2.52% to $97.14 and U.S. West Texas Intermediate crude for May adding 2.72% to $96.96 per barrel. This rise follows Iran's accusation that the U.S. violated a ceasefire agreement, which raises concerns about potential disruptions in energy supplies. Mohammad Bagher Ghalibaf, Iran's parliamentary speaker, stated that the U.S. had breached terms related to Israel's actions in Lebanon and Iran's rights regarding uranium enrichment. This volatility in prices occurred after U.S. crude oil experienced its largest single-day drop since 2020.
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