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Commodities

Middle East Tensions Fuel Oil Price Hike Amid US-Iran Conflict

Guavy AI Editorial Team
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Oil
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Oil prices rose on Thursday due to concerns over Middle East supply disruptions amid an impasse in the US-Iran conflict.

The Brent crude futures for October delivery increased by $0.26, or 0.28%, to $91.87 a barrel at 4:39 GMT.

US West Texas Intermediate crude futures for September rose by $0.17 to $86 a barrel, while the more-active October WTI contract gained $0.12, or 0.13%, to $89.91.

The market is expected to maintain a gradual upward trend due to uncertainty over peace talks and tensions involving the United Arab Emirates, Oman, and Iran.

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