Brent Crude Edges Higher Amid Renewed Middle East Tensions
The price of oil has risen slightly as Middle East tensions persist.
Global benchmark Brent crude increased by 0.5% in early Asia trading, while the US dollar remained steady against major peers.
The rise comes amid renewed Israeli attacks on Lebanon and the prospect of fresh US sanctions on Iran ahead of the formal end of their ceasefire agreement due on Monday (Aug 17).
The deadliest strike since the sides agreed to a ceasefire in early June saw Israel kill 11 people, including a senior Hizbollah commander.