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Are You Buying Oil On Geopolitical Concerns?


Brent oil gained on Wednesday after two days in retreat, supported by a retreat in the dollar against the euro ahead of a re lease of minutes by the U.S. Federal Open Market Committee.

Rosanne Olson | The Image Bank | Getty Images

The greenback was pressured on growing signs that the Federal Reserve was likely to adopt an ultra-loose monetary stance in coming months.

Influential Fed Vice Chair Janet Yellen said on Tuesday that U.S. interest rates may need to stay near zero until early 2016 to forcefully lift employment.

Geopolitical tensions also supported prices. Hamas's military chief was killed when his car was hit by an Israeli airstrike on Wednesday, the Palestinian Islamist group said, with multiple Israeli attacks rocking the Gaza Strip.

However economic worries prevented more strength.

Brent crude futures gained 1 percent to about $109 a barrel, after ending 81 cents lower on Tuesday. U.S. light, sweet crude gained 0.6 percent to about $86 a barrel.

That said, are you buying oil on geopolitical concerns? Vote now in our "Futures Now" poll!

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