On the early morning of Monday, peking time on the 8th, usa WTI crude oil futures rose by 3.7%. With Israel claiming to "take all measures" to retaliate against Iran, the market is closely monitoring the increasingly tense situation in the Middle East.
The price of West Texas Intermediate (WTI) crude oil futures for delivery in November on the New York Commodity Exchange rose by $2.76, a 3.71% increase, closing at $77.14 per barrel, breaking through the 100-day moving average and 200-day moving average (currently at $74.51 and $74.90, respectively), approaching the closing prices of $77.37 on August 12 and $81.32 on July 3, with a cumulative increase of 18.42% since the end of trading on September 10.
The price of Brent crude oil futures for delivery in December on the Europe Intercontinental Exchange rose by $2.88, a 3.69% increase, closing at $80.93 per barrel.
Last week, oil prices soared due to concerns that Israel might strike Iran's oil industry in retaliation for Tehran's large-scale ballistic missile attacks.
Israel bombed Hezbollah targets in Lebanon and Gaza on Sunday, the first anniversary of the October 7 attack, which sparked a war between Israel and Gaza. Israel's Defense Minister also announced that Israel will take all measures to retaliate against its archenemy Iran.
usa WTI crude oil surged 9.09% last week, marking the largest weekly gain since March 2023. Brent crude oil, the global benchmark for oil prices, rose by 8.43%, marking the largest weekly gain since January 2023.