Oil Prices Rise as Dollar Declines Amid Escalating Middle East Tensions
Oil prices rose amid escalating tensions in the Middle East, with Brent crude increasing by 1.72% to reach $86.19 per barrel, and West Texas Intermediate rising by 1.4% to $80.40 after mid-June gains. Meanwhile, the dollar declined following the release of American inflation data that came in lower than expected, with its exchange rate at 162.08 Japanese yen. The euro and the British pound remained steady with slight increases.
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