: U.S. oil futures climb closer to $90 a barrel
Oil futures ended higher on Thursday, with U.S. prices edging closer to $90 a barrel. “Energy markets are in the grasp of geopolitical events,” said Tariq Zahir, managing member at Tyche Capital Advisors. The biggest fear is an expansion of the Israel-Hamas war, and Iran gets involved, he said. “We could see Iran cause issues in the Strait of Hormuz. Supply disruptions are the biggest concern and we do not see that abating any time soon.” November West Texas Intermediate crude CLX23 rose $1.05, or 1.2%, to settle at $89.37 a barrel on the New York Mercantile Exchange, ahead of the contract’s expiration at the end of Friday’s session.
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