Israeli-Palestinian conflict pushes oil prices higher ...News

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Israeli-Palestinian conflict pushes oil prices higher
Concerns over a potential disruption of output from the Middle East are growing as tensions mount Global oil prices jumped by nearly 4% on Monday as renewed hostilities between Israel and armed Palestinian groups threaten the stability of the Middle East. Brent futures were up 3.7% to $87.77 per barrel as of 13:00 GMT. US West Texas Intermediate crude was trading above $86 per barrel, up nearly 4%. Both benchmarks spiked by more than 5% earlier in the session. The latest increase in crude prices reversed the largest weekly decline since March that was recorded last week, when Brent fell about 11% and WTI retreated

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