Crude prices rose on concerns of a wider fallout following the 7 October attack on Israel by Islamist group Hamas. Atlantic basin benchmark North Sea Dated rose by 85￠/bl to $89.56/bl in the week to 12 October. Prices had climbed to $91.39/bl on 9 October, the first trading session after the attack. US light sweet WTI rose by 60￠/bl to $82.91/bl and Mideast Gulf marker Dubai rose by $2.15/bl to $87.20/bl. Trading firm Mercuria’s deputy chief executive Magid Shenouda has said oil prices could cross the $100/bl mark if the Hamas-Israel conflict escalates.
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