Economics
Oil Rises as Middle East Tension Counters IMF Growth
This article is for subscribers only.
Oil advanced for the first time in three days as increasing tension in the Middle East countered concern that a global economic slowdown will curb demand.
Futures rose 3.4 percent as radar-assisted Turkish guns fired on Syrian artillery units and tanks for six consecutive days after the deaths of five people struck by a Syrian shell in Turkey on Oct. 3. The International Monetary Fund cut its global growth forecasts today as the euro area’s debt crisis escalates.