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International crude oil prices on Oct 25 as tensions in Middle East escalate

28 Oct 2024 16:34 reported by Liv Wang

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International crude oil prices rose on October 25. The market was pessimistic about the demand outlook from China, the world's largest oil importer, which limits the rise in crude oil prices.

However, the escalation of conflicts in the Middle East threatens crude oil flows from the region, providing price support.

West Texas Intermediate (WTI) crude for December delivery increased by US$1.59 (2.27%), reaching US$71.78/barrel on the New York Mercantile Exchange.

Brent crude for December delivery rose by US$1.67 (2.25%), settling at US$76.05/barrel.

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