Oil Prices Rise Amid Escalating Middle East Tensions

Reported 1 day ago

Oil prices have increased for the third consecutive day as rising tensions in the Middle East, particularly due to Israeli military strikes in Gaza, overshadow fears of a global supply surplus. Brent crude surpassed $71 per barrel, while West Texas Intermediate approached $68. Despite ongoing geopolitical pressures and a potential rise in US oil production, analysts note that sanctions on Iran could significantly impact global supply.

Source: YAHOO

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