Oil Set for First Weekly Gain in Four on Ukraine, Gaza
This article is for subscribers only.
West Texas Intermediate and Brent crude headed for the first weekly gain in a month after a Malaysian Air passenger jet was downed in Ukraine and Israel sent ground forces into the Gaza Strip.
WTI futures were little changed in New York after erasing earlier gains of as much as 0.7 percent. They rose 2 percent yesterday for the biggest gain since June 12. The flight crashed en route to Kuala Lumpur from Amsterdam in the main battleground of Ukraine’s civil war, threatening to escalate the worst crisis between the West and Russia since the end of the Cold War. Israel’s movement of troops and tanks into the coastal enclave marks the first significant ground operation in Gaza since 2009.