Global crude oil prices saw an uptick as market participants reacted to the potential for a prolonged conflict in the Middle East. By 0400 GMT, Brent crude futures increased by 49 cents, or 0.5%, reaching $97.49 per barrel. Meanwhile, US West Texas Intermediate crude rose by $1.44, or 1.6%, to trade at $92.92 per barrel. The rise in prices reflects growing concerns regarding potential disruptions to oil supplies.
Economy
Oil prices climb amid supply concerns over Mideast conflict
Crude oil prices rose as concerns over a prolonged conflict in the Middle East fueled supply worries.
Source: The Business Standard