Business · Energy & Commodities · 2 hrs ago
Oil futures rise in Japan as Middle East uncertainty grows
Japanese oil futures rose on October 16, while gold also rebounded.
The benchmark March 2027 oil contract opened at 93,980 yen per kilolitre, up 520 yen from its previous settlement.
Growing uncertainty over the Middle East has raised concern that oil supplies may take longer to return to normal.
Those concerns prompted buyers to step into oil futures.
The report cites a CNN account of US use of a powerful bomb in Iran, but the available details do not say what was hit.
The risk of delayed supply recovery matters because it is supporting oil prices.
No further developments or next steps are given.
Japanese oil futures opened higher as uncertainty over the Middle East increased.
The March 2027 contract opened at 93,980 yen per kilolitre, up 520 yen from the previous settlement.
Concern that oil supply would take longer to return to normal supported buying in oil futures.
The report said CNN reported on October 15 that the United States had used a large blast bomb called the “Mother of All Bombs” in an energy-related facility in Iran.
- Who
- Traders in Japan’s domestic commodity futures market.
- What
- Oil futures opened higher, with the March 2027 contract up 520 yen per kilolitre.
- When
- The morning of October 16, 2026.
- Where
- Japan’s domestic commodity futures market.
- Why
- Greater uncertainty over the Middle East raised concern that oil supply would take longer to return to normal.
This story does not have two clearly opposing sides.
CNN reported that the United States had used a large blast bomb called the “Mother of All Bombs” in an energy-related facility in Iran.
Japanese oil futures opened higher amid concern over Middle East uncertainty and the outlook for oil supply.
- Contract
- March 2027
- Opening price
- 93,980 yen per kilolitre
- Change from previous settlement
- Up 520 yen
- Market
- Japan’s domestic commodity futures market