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Price of Brent oil exceeds $75 per barrel on ICE after decline

Meanwhile, the price of futures contracts of WTI crude oil for November delivery was up by 5.37% at $71.83 per barrel

MOSCOW, October 1. /TASS/. The price of futures contracts of Brent crude oil for December delivery has risen above $75 per barrel on London's ICE for the first time since September 25, according to trading data.

As of 7:46 p.m. Moscow time (4:46 p.m. GMT) the Brent price was up by 4.74% at $75.1 per barrel. By 8:06 p.m. Moscow time (5:06 p.m. GMT) the price of Brent futures contracts had extended gains to 5.23% trading at $75.45.

Meanwhile, the price of futures contracts of WTI crude oil for November delivery was up by 5.37% at $71.83 per barrel.

The gold price has gained over 1%. As of 7:46 p.m. Moscow time (4:46 p.m. GMT) the price of gold futures contract for December delivery amounted to $2,691.6 per troy ounce (+1.21%) on the Comex exchange (a division of the New York Mercantile Exchange). By 8:06 p.m. Moscow time (5:06 p.m. GMT) the gold price had narrowed gains to 1.06% trading at $2,687.7 per troy ounce.

The price of oil is rising amid news from the Middle East. Iran has launched a missile attack on Israel, firing nearly 500 missiles, The Jerusalem Post reported earlier.

On September 23, Israel launched an offensive operation, dubbed Northern Arrows, against Lebanon-based Hezbollah Shia movement, carrying out massive airstrikes on its military targets.