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Crude oil prices rise after Iraq missile attacks

ITN News Editor
By ITN News Editor January 8, 2020 15:42

Crude oil prices rise after Iraq missile attacks

Oil prices have risen after two bases hosting US troops in Iraq were hit by ballistic missiles. Brent crude was up by 1.4% at $69.21 per barrel in the middle of the Asian trade, easing back from earlier gains.So-called safe haven assets, like gold and the Japanese yen, also rose on the news. At the same time global stock prices were sent lower on concerns over the growing conflict in the Middle East.Japan’s benchmark Nikkei 225 stock index fell by 1.3%, and Hang Seng in Hong Kong was down 0.8%.Iranian state television said the attack was a retaliation for the killing of the country’s top commander Qasem Soleimani.
In the meantime, Gold prices in Dubai, the United Arab Emirates , jumped amid high tensions in the Middle East following the U.S. killing of a top Iranian commander. The 22K gold price in Dubai jumped to 176.5 dirhams per gram, hitting a new high since January 2018 on Friday . The price kept going up to 179 dirhams per gram on the next day.

ITN News Editor
By ITN News Editor January 8, 2020 15:42

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