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Oil on the rise, markets nervous about tensions in the Gulf

Geopolitical uncertainty after the attack on Saudi installations led to a 7% increase in Brent and WTI last week. And the race hasn't stopped: the impact on fuels

Oil on the rise, markets nervous about tensions in the Gulf

Oil prices still up after a week in which the barrel, both Wti and Brent, rose by more than 7% in the wake of the attacks on Saudi installations: precisely the possible long lead times for the total restoration of production, even if Ryyadh's energy minister has indicated that this should take place at the end of the month, are the basis of the new extension to 58,7 dollars per barrel of WTI in November and 65 dollars of Brent in November.

Tensions in the Gulf continue to worry the markets which have seen the possibility of a meeting between US President Trump and Iranian leader Rouhani vanish on the occasion of the UN Climate Assembly. Iran continues to thunder against US support for Saudi Arabia and the US presence in the Gulf; America replies that the drone attack on the Saudi refineries was and should be considered a real act of war. An attempt to bring the two opposing fronts closer together will in any case be attempted during the UN session by the diplomats of the two countries involved.

In this context, oil prices continue the race that has already made the first results felt also on the prices of fuels at the distribution pumps. After an initial rise, however, prices stabilized but the quotations of petroleum products in the Mediterranean mark a slight step forward for both petrol and diesel.

In Italy, slight adjustments are observed. Based on the elaboration of Quotidiano Energia of the data at 8 on Sunday communicated by the managers to the Ministry of Development's Observatory for fuel prices, the national average price charged in self-service mode for petrol is equal to 1,596 euro/litre, with the various brands ranging from 1,597 to 1,609 euro/litre (no logo 1,574). The average price of diesel is 1,486 euro/litre with the companies going from 1,487 euro/litre to 1,498 euro/litre (no logo 1,465)

As for the fuel served, the average price charged for green is 1,730 euro/litre, with colored plants ranging from 1 to 693 euro/litre (no logo 1,792), while for diesel the average is 1,623 euro/litre litre, with company points of sale between 1,622 and 1,595 euros (litre (no logo 1,700). Lastly, LPG ranges from 1,514 to 0,595 euros/litre (no-logo 0,624).

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