The price of WTI Crude Oil (Light Sweet) on the NYMEX Stock Exchange has risen by 0.56%, reaching $75.84 per barrel.
The uptick comes in the wake of heightened geopolitical tensions in the Middle East following the assassination of Hamas leader Ismail Haniyeh. The surge in oil prices reflects market concerns over potential disruptions in supply amid escalating regional instability.
Brent Crude Oil price at London’s IСE Stock Exchange is up by 0.31% to $79.65 per barrel, “Armenpress” reports.
A barrel is the unit of measurement of oil volume. One barrel equals 159.98 liters.
New York’s NYMEХ (New York Mercantile Exchange) is a US futures market founded in 1882.
It ranks first in oil futures trade. Currently, trade is carried out by the exchange’s two divisions, the NYMEX Division and the COMEX Division, the first one designed for trades of oil, gas, platinum, palladium, ethanol, coal, electricity, and carbon dioxide emissions, the second one for gold, silver, copper, and aluminum.
London Intercontinental Exchange (ICE) is a London-based options exchange and a leading operator of global exchanges founded in 1982.
