Business & Finance

Crude Oil Price Jumps to $56, Highest In A Month

Crude Oil

Oil price surged more than 2 percent to a one-month high on Friday after the United States launched dozens of cruise missiles at an airbase in Syria, with prices later dropping back as there seemed no immediate threat to supplies.

After tepid trading before the attack, Brent crude futures LCOc1 jumped to $56.08 per barrel, before easing to $55.62 per barrel at 0704 GMT, still up 1.3 percent from their last close.

U.S. West Texas Intermediate (WTI) crude futures CLc1 also climbed by more than 2 percent, to a high of $52.94 a barrel, before receding to $52.46, up 1.45 percent.

Both benchmarks hit their strongest levels since early March.

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