Oil prices surge on Middle East supply fears ...News

Russia Today - Economy
Oil prices surge on Middle East supply fears
source : Russia Today ( News ) () 104
Energy markets are bracing for supply disruptions as the regional conflict heats up Global oil prices climbed on Friday after Israel’s invasion of Lebanon and Iran’s missile attack on Israel sparked volatility on energy markets. The Brent benchmark gained 1.8% on Friday to $79 per barrel as of 10:43 GMT, its highest level since August 30. West Texas Intermediate (WTI) crude rose 1.3% to trade at $75. Markets have been reacting to fears of a disruption in crude flows from the Middle East, due to the conflict. On Thursday, oil prices leapt 5% after Israel threatened to strike Iranian oil facilities in response to Te

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