8 Hrs
Source:
البلاد
Oil rises after US strike
Oil prices rose in Asian trading on Tuesday after reports of a US strike on Iran’s Qeshm Island raised fears of an escalation in the conflict and disruption to supplies. Brent crude gained 48 cents to $105.25 a barrel, while West Texas Intermediate rose 47 cents to $96.93, after Brent fell 7.63% in the previous session to $104.77. The attacks were described as defensive measures to prevent commercial ships from being targeted in the Strait of Hormuz, through which around one-fifth of the world’s oil and gas supplies passed. Tehran said communications with Washington aimed at ending the war were continuing.
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