WTI Crude Oil (Light Sweet) is now trading for $75.84 a barrel on the NYMEX Stock Exchange, up 0.56% from the previous trading day.
The increase coincides with increased Middle East geopolitical tensions brought on by the purported assassination of Hamas leader Ismail Haniyeh. The market’s worries about possible supply interruptions in the face of growing regional instability are reflected in the spike in oil prices.
According to “Armenpress,” the price of Brent Crude Oil increased by 0.31% to $79.65 a barrel on the London Stock Exchange.
The unit of measurement for oil volume is barrel. A barrel has 159.98 liters in it.
The New York Mercantile Exchange, or NYMEX, is a US futures market that was established in New York in 1882.
