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Oil prices rose to their highest in more than a year on Monday after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Houthi group, raising fears of fresh Middle East tensions. Hopes for more U.S. stimulus and an easing of coronavirus lockdowns helped support the rally after prices […]
Oil prices rose to their highest in more than a year on Monday after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Houthi group, raising fears of fresh Middle East tensions.
Hopes for more U.S. stimulus and an easing of coronavirus lockdowns helped support the rally after prices gained around 5% last week.
Brent crude was up 66 cents, or 1.1%, at $63.09 a barrel at 0004 GMT, after climbing to a session high of $63.44, the highest since Jan. 22, 2020.
U.S. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.5%, to $60.33 a barrel. It touched the highest since Jan. 8 last year of $60.77 earlier in the session.
The Saudi-led coalition fighting in Yemen said late on Sunday it intercepted and destroyed an explosive-laden drone fired by the Houthi group toward the kingdom, state TV reported.
“An early spike in oil markets was triggered by the news,” said Kazuhiko Saito, chief analyst at commodities broker Fujitomi Co.
“But the rally was also driven by growing hopes that a U.S. stimulus and easing of lockdowns will boost the economy and fuel demand,” he said. WTI may be pulled back by profit-taking as it reached a key $60 level, he added.
U.S. President Joe Biden pushed for the first major legislative achievement of his term on Friday, turning to a bipartisan group of local officials for help on his $1.9 trillion coronavirus relief plan.
Oil prices have rallied over recent weeks also as supplies tighten, due largely to production cuts from the Organization of the Petroleum Exporting Countries (OPEC) and allied producers in the group OPEC+.
این مطلب بدون برچسب می باشد.
The Iranian Foreign Ministry issued a statement on Tuesday condemning the Australian officials over the imposition of sanctions against certain officials and state institutions of the Islamic Republic of Iran.
Iran exported 130,000 tons of eggs valued at more than $140 million to the target countries in the previous Iranian calendar year (ended on March 19), the deputy agriculture minister for livestock, and poultry affairs said.
Over 33.09 billion cubic meters of water is stored behind the dams across Iran, indicating that 67 percent of the capacity of the country’s dams is full, according to the Iranian Energy Ministry data.
Heart disease is the number one cause of death in the United States, taking more lives each year than all forms of cancer and chronic lower respiratory disease combined.
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