Crude is still positive in Asia on geopolitical tensions

Crude is still positive in Asia on geopolitical tensions

On Monday, crude gave up some of the early revenues in Asia, with tensions on the Korean peninsula in focus along with the recent fallout from a missile strike by the US military the previous week on a Syrian airbase, which drew a steep rebuke from key crude producers Russia and Iran.

In London, June delivery Brent futures grew 0.14%, trading at $55.32 a barrel. Additionally, May delivery US West Texas Intermediate crude futures soared 0.25%, demonstrating $52.37 a barrel.

The previous week, crude futures settled higher for the fourth trading session in a row on Friday, thus extending a surge to the strongest level in about a month after two American destroyers based in the Eastern Mediterranean launched up to 59 Tomahawk cruise missiles at a Syrian air base in response to Bashar al-Assad's alleged deployment of chemical weapons against his own citizens.

Crude pared some of the revenues later in the trading session as worries about a wider escalation in the region faded and American economic data weighed on global financial markets.


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