Business · Energy & Commodities · 1 hr ago
Oil futures rise in Japan as Middle East tensions deepen
Crude oil futures rose in Japan on the morning of October 13.
The benchmark March 2027 contract opened at 94,390 yen per kiloliter, up 2,470 yen from its previous settlement.
In overnight trading, it briefly reached 95,280 yen, its highest level since July 2008.
Traders were buying oil as tensions in the Middle East increased.
They saw a greater risk that oil supplies would take longer to return to normal.
The report links the rising tensions to actions by Yemen’s Iran-aligned Houthi armed group on October 10 and 11, but gives no further details.
The next direction for prices is not stated.
Oil futures in Japan rose on the morning of October 13 as tensions in the Middle East deepened.
The benchmark March 2027 contract opened at 94,390 yen per kiloliter, up 2,470 yen from the previous week’s settlement.
In overnight trading, it reached 95,280 yen, its highest level for a benchmark contract since July 2008.
The article said buying was driven by concern that rising tensions could delay the normalization of oil supplies.
- Who
- Traders in Japan’s domestic commodity futures market.
- What
- Oil futures rose, with the benchmark March 2027 contract opening higher.
- When
- The morning of October 13, 2026; the article also reports an overnight high.
- Where
- Japan’s domestic commodity futures market.
- Why
- Rising Middle East tensions raised concern that oil supply normalization would be delayed.
This story does not have two clearly opposing sides.
The article says Yemen’s Houthi group, described as pro-Iranian, acted during these dates, but the available text does not include further details.
The benchmark contract reached 95,280 yen per kiloliter, its highest level since July 2008.
The benchmark March 2027 contract opened at 94,390 yen per kiloliter, up 2,470 yen from the previous week’s settlement.
- Benchmark contract
- March 2027
- Opening price
- 94,390 yen per kiloliter
- Change from previous settlement
- Up 2,470 yen
- Overnight high
- 95,280 yen per kiloliter
- Previous comparable high
- Highest benchmark-contract level since July 2008
Sources
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