Reported 2 months ago
Oil prices have increased for a fifth consecutive session, buoyed by easing recession fears in the US and rising tensions in the Middle East, particularly regarding Iran's potential retaliation for the recent assassinations of Hamas and Hezbollah leaders. Brent crude futures rose to $80.36 a barrel, while US West Texas Intermediate futures reached $77.68. Analysts noted that the market is closely monitoring Iran's next moves and the ongoing Israeli military actions in Gaza, despite OPEC's downward revision of global oil demand growth.
Source: YAHOO