Oil Advances as Trump’s Deadline for Hamas Revs Up Risk Premium
Oil climbed as US President Donald Trump’s warning of stark consequences if Hamas doesn’t agree to his plan to end the war in Gaza overshadowed an impending OPEC decision on crude supplies.
West Texas Intermediate futures rose as much as 1.5% to trade near $61 a barrel on Friday, a day after settling near a five-month low. Trump set a Sunday evening deadline for Hamas, which has been designated a terrorist organization by the US and EU, to accept his proposal. The president earlier said that Israel would have the “full backing” of his administration to destroy the militant group if Hamas rejects the deal.
