{"id":174308,"date":"2023-10-15T00:51:51","date_gmt":"2023-10-14T19:21:51","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=174308"},"modified":"2023-10-15T00:51:51","modified_gmt":"2023-10-14T19:21:51","slug":"wti-price-skyrockets-amid-escalating-israel-palestine-tensions-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/wti-price-skyrockets-amid-escalating-israel-palestine-tensions-crypto-news\/","title":{"rendered":"WTI price skyrockets amid escalating Israel-Palestine tensions &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>WTI surged over 5%, trading at $90.87 per barrel, in response to escalating military actions between Israel and Palestine.<\/strong><\/li>\n<li><strong>Israel&#8217;s ground offensive in the Gaza Strip triggers a risk-off market mood, boosting safe-haven assets and oil prices.<\/strong><\/li>\n<li><strong>Iran\u2019s Oil Minister predicts crude prices could hit $100 per barrel due to the intensifying geopolitical situation in the Middle East.<\/strong><\/li>\n<\/ul>\n<p>West Texas Intermediate (WTI), the US crude oil benchmark, soars more than 5% on a risk-off impulse due to escalations of the conflict between Palestine and Israel, with the latter beginning its ground offensive in the Gaza Strip. Therefore, WT is trading at $90.87 per barrel after bouncing from daily lows of $86.32.<\/p>\n<h2 class=\"fxs_headline_medium\">Geopolitical strains and supply concerns boost WTI above $90.00, stirred by potential production disruptions<\/h2>\n<p>Israel&#8217;s announcement of ground raids sparked flows to safe-haven assets, mainly Gold and the US Dollar (USD). Oil remains bid on fears the escalation would hit supplies from nearby countries in the world\u2019s central crude-producing region.<\/p>\n<p>In the meantime, Iran\u2019s Oil Minister Java Owji noted that crude prices are projected to reach $100 per barrel due to the ongoing geopolitical developments in the Middle East, as reported by Reuters.<\/p>\n<p>Chances of the conflict are spreading after Ran\u2019s linked group Hezbollah launched cross-border attacks on Israel. That could spur a reaction by the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">United States<\/a> (US), which could reimpose sanctions on Iran\u2019s exports, which would likely hit global Oil supplies.<\/p>\n<p>Another reason behind the WTI jump was the US imposing sanctions on owners of Oil tankers carrying Russian crude priced above the $60 a barrel cap accorded by the Group of Seven.<\/p>\n<p>Aside from this, the Organization of the Petroleum Exporting Countries (OPEC) kept its forecast for growth in global Oil demand, spurred by a resilient world economy so far this year and further demand gains in China.<\/p>\n<h2 class=\"fxs_headline_medium\">WTI Technical Levels<\/h2>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: WTI surged over 5%, trading at $90.87 per barrel, in response to escalating military actions between Israel and Palestine. Israel&#8217;s ground offensive in the Gaza Strip triggers a risk-off market mood, boosting safe-haven assets and oil prices. Iran\u2019s Oil Minister predicts crude prices could hit $100 per barrel due to the intensifying geopolitical situation [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":42331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,729,255,250,683,252,247,253,411,249,410,256,254,664],"class_list":["post-174308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-energy","tag-gta","tag-looks-rare","tag-oil","tag-oracle","tag-polygon","tag-quickswap","tag-riskaversion","tag-safe-moon","tag-sentiment","tag-wallet","tag-wordpress","tag-wti"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=174308"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174308\/revisions"}],"predecessor-version":[{"id":174309,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174308\/revisions\/174309"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/42331"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=174308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=174308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=174308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}