Oil rises amid escalating Middle East tensions

Oil prices rose today, April 11, amid escalation of tensions in the Middle East.

 

Brent crude futures rose $0.05 to $90.53 a barrel at 0632GMT.

 

Similarly, futures prices for US West Texas Intermediate (WTI) crudegained $0.04 to $86.25 per barrel.

 

"Prices remain sensitive to geopolitical developments in the Middle East, with market participants pricing for the risks of supply disruptions if tensions were to drag for longer," said Yeap Jun Rong, market strategist at IG.

 

Investors are anticipating OPEC's monthly report later today, as well as the International Energy Agency's oil report tomorrow.

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Commodity Price

 
Brent Crude Oil
75.17
0.13 0.18%
Nymex
71.28
1.14 1.62%

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