Reported about 8 hours ago
Oil prices increased by more than 1% due to heightened fuel demand caused by Hurricane Milton in Florida and ongoing tensions in the Middle East following Iran's missile strikes on Israel. Brent crude rose by $1.20 to $77.78 a barrel, while U.S. West Texas Intermediate climbed $1.16 to $74.40. Concerns about potential Israeli strikes on Iranian oil infrastructure have also kept investors on edge, despite a downgrade in global demand forecasts by the U.S. Energy Information Administration.
Source: YAHOO