Russia’s Novak: Escalation of Israel-Palestinian conflict may affect oil market
|Ahead of the meeting with Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman later on Wednesday, Russian Deputy Prime Minister Alexander Novak said that “Russia and Saudi Arabia will discuss oil market situation and oil prices,” TASS news agency reported.
Novak said that “the escalation of the Israel-Palestinian conflict may affect the oil market.”
Market reaction
WTI is catching a fresh bid in immediate reaction to the above comments, challenging daily highs at $84.90, up 0.38% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.