Rising tensions in the Middle East have pushed up crude oil prices in the Tokyo market to the highest level in more than five months.
The price of Middle Eastern crude oil in Tokyo for delivery in September rose to 80,240 yen, or about 530 dollars, per kiloliter early Friday morning.
This is the first time since late October last year that the price has exceeded 80,000 yen.
In New York, the benchmark WTI crude oil futures also rose above the 87-dollar level a barrel to hit a five-month high on Thursday.
Market sources in Tokyo say investors are wary that tensions in the Middle East could affect oil supplies following an attack allegedly conducted by Israel on the Iranian embassy in Syria.
They also say the oil market is keeping an eye on diplomatic developments in the region.
The price of Middle Eastern crude oil in Tokyo for delivery in September rose to 80,240 yen, or about 530 dollars, per kiloliter early Friday morning.
This is the first time since late October last year that the price has exceeded 80,000 yen.
In New York, the benchmark WTI crude oil futures also rose above the 87-dollar level a barrel to hit a five-month high on Thursday.
Market sources in Tokyo say investors are wary that tensions in the Middle East could affect oil supplies following an attack allegedly conducted by Israel on the Iranian embassy in Syria.
They also say the oil market is keeping an eye on diplomatic developments in the region.
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Summary
Middle East tensions lead to surge in Tokyo crude oil prices, reaching a five-month high of 80,240 yen per kiloliter. New York's benchmark WTI crude also hits a five-month high above 87 dollars per barrel. The price rise is due to investor concerns over potential oil supply disruptions following
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ID: 1a02d1a9-15a0-4c92-aca6-f71d8b35aeab
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20240405_26/
Date: April 5, 2024
Created: 2024/04/06 06:30
Updated: 2025/12/08 15:31
Last Read: 2024/04/06 16:24