Reported 27 days ago
Oil prices continued to rise as reports emerged that Iran may be planning a significant retaliatory strike on Israel through allied militias in Iraq, raising concerns about potential supply disruptions in the Middle East. West Texas Intermediate climbed above $70 a barrel and Brent surpassed $74, amid renewed geopolitical tensions following an Israeli airstrike on Hezbollah targets. While US crude output reached a record high, recent declines in US inventories added to the market's volatility. Traders remain cautious with key events like US elections and OPEC+ decisions approaching.
Source: YAHOO