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Oil Price Up Thursday on News of Malaysian Plane Crash
Jul. 18, 2014 09:00AM PST
Oil and Gas InvestingThe Wall Street Journal reported that oil prices jumped this Thursday following news that a Malaysia Airlines passenger plane had crashed in Eastern Ukraine. Additionally, Israel sent soldiers into the Gaza Strip, further bolstering oil, which reached its highest price in more than a week, according to the Journal.
The Wall Street Journal reported that oil prices jumped this Thursday following news that a Malaysia Airlines passenger plane had crashed in Eastern Ukraine. Additionally, Israel sent soldiers into the Gaza Strip, further bolstering oil, which reached its highest price in more than a week, according to the Journal.
As quoted in the publication:
U.S. oil futures closed $1.99, or 2%, higher at $103.19 a barrel on the New York Mercantile Exchange. That’s the largest one-day dollar and percentage gain since June 12, when Islamists launched an uprising in Iraq. Prices continued to climb after the close of the regular trading session, recently hitting an intraday high of $103.61.