US stocks open higher as energy sector jumps on geopolitical concerns

Economies.com
2019-06-13 15:26PM UTC

US stocks rose slightly amid the recovery of the energy sector, coinciding with the rise in oil prices following the incident near the Sea of ​​Oman.

 

US government data showed that the jobless claims rose by nearly 3,000 to 222,000 during last week, while import prices fell by 0.3% in May.

 

The energy sector has been fueled by fears over a disruption of oil supplies in the Middle East after two oil tankers were hit by an suppotage attack in the Sea of ​​Oman and the US Navy announced that they intervened to deal with the incident.

 

As a result, the price of West Texas rose by 3% to $52.6 per barrel at 15:08 GMT, with a high of $53.4 and a low of $50.9.

 

Brent rose 2.8% to $61.6 a barrel, and hit a record high of $62.6 and a low of $59.7.

 

In terms of stocks trade, Dow Jones rose by 0.1% (equivalent to 32 points) to 26,037 points, \Nasdaq rose 0.3% (27 points) to 7,820 points, while Standard & Poor's rose by 0.2% (6 points) to 2,885 points.

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