Brent crude nears 5-month high amid Middle East concerns
Oil prices rose today, Tuesday, with Brent crude nearing a five-month high, due to geopolitical tensions in the Middle East and attacks on ships in the Gulf. Brent futures increased by 0.50% to $110.10 a barrel, the highest level since May, while West Texas Intermediate futures climbed to $103.91. The market remains poised for an increase in risk premiums amid ongoing attacks and growing concerns over the stability of oil supplies from the region.
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