April 24, 2018

Oil Rises on Flaring Geopolitical Risks and Shrinking Stockpiles

 

 

Futures in New York climbed as much as 0.7 percent. Prices closed at the highest level since December 2014 on Monday while a measure of oil volatility rose the most in two weeks as the conflict between Saudi Arabia and Iran-backed Houthis in Yemen worsened, raising concerns over supply disruptions in the energy-rich Mideast region. Expectations for a drop in U.S. crude inventories added to the gains, with analysts forecasting a second weekly decline.

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