Oil Prices Surge Amid Persistent Conflict Concerns
Oil prices rose on Tuesday morning following gains in the previous trading session, driven by persistent doubts over an early resolution to the conflict in the Middle East. Report informs, citing Interfax, that Brent crude futures gained $2.04 (1.94%) to reach $107.32 per barrel by 09:14 GMT+4. This comes after Monday's trading saw oil prices surge by more than 3% following statements by US President Donald Trump rejecting an Iranian plan for de-escalating tensions.
The November futures for Brent crude on the London-based ICE Futures exchange rose to $107.32 per barrel, while the November futures for WTI crude on electronic trading at the New York Mercantile Exchange (NYMEX) reached $94.25 per barrel. On Monday, Brent closed higher by $0.96 (0.9%) at $105.28 per barrel.