Reported 2 months ago
Oil prices increased from a seven-month low amidst rising tensions in the Middle East, specifically with an expected retaliation strike on Israel by Iran. Brent crude climbed above $77 per barrel as Israel prepared for potential attacks from Iran and regional militias, while West Texas Intermediate hovered around $74. This surge comes after four weeks of declines attributed to weak demand signals from both the US and China.
Source: YAHOO