Crude oil rises as Middle East tensions worry traders
Oil became more costly as traders worried about Middle East tensions. Here is what that may mean for you.
Imagine a shop that might run out of something people need. The shop can charge more for it.
Crude oil is the raw material used to make petrol and many other things. Its price rose, and reports say Middle East tensions are the reason traders are worried.
When we wrote this, our delayed (not live) quote was $99.39 for one barrel. A barrel is a standard unit of oil. That is 2.31% above the last close, which is the price when trading ended the day before.
Higher oil costs can slowly reach you through petrol and delivery charges. Your bills may feel a little heavier over time.
This is for learning, not financial advice.
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Educational only, not financial advice. Numbers beside the story are from our own data.