Oil closed slightly lower as the dollar appreciated; the commodity rose more than 3% this week as interest rates were cut in the US (Image: REUTERS/Stringer/Archivo)
O oil The last session of the week, marked by monetary policy decisions, ended on a negative note. The strengthening of the dollar put pressure on the commodity and the escalation of conflicts in the Middle East was on the radar.
The most liquid contracts of the Brent oila reference for the international market, for November, ended this Friday (20) down 0.52%, at US$ 74.49 per barrel, on the Intercontinental Exchange (ICE), in London. In the week, the increase was more than 4%.
The contracts of the West Texas Intermediate oil (WTI) for November fell 1.22%, to US$ 71.00 a barrel, on the New York Mercantile Exchange (Nymex), in the United States. In the week, WTI futures rose 3.4%.
What moved oil today?
The market followed another day of escalating tension in the Middle East conflicts.
Israel killed a top Hezbollah commander in an airstrike in the southern suburbs of Beirut on Friday (20).
The Israeli military said it killed Ibrahim Aqil, identified as the acting commander of the Radwan special forces unit, and about 10 senior commanders during a meeting. Aqil was part of Hezbollah's top military council, sources in Lebanon told Reuters.
The attack dealt another blow to Hezbollah following an unprecedented attack on the group this week in which pagers and walkie-talkies used by its members exploded, killing 37 people and injuring thousands. This attack is believed to have been carried out by Israel, which has neither confirmed nor denied its involvement.
Hezbollah made no official statement about the attack and did not immediately confirm whether Aqil was the target or had been killed.
Oil market analysts have warned for months that a war between Israel and Hezbollah, which has so far been exchanging rocket fire, could force Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), to intervene directly, increasing the risk of disruptions to crude supplies in the Middle East.
*With information from Reuters