Oil prices rise on Middle East conflict fears as Israel steps up attacks

Oil prices rose on Monday due to escalating Middle East tensions, with Brent crude reaching $72.49 and WTI at $68.61 per barrel. The increase follows Israel’s intensified attacks on Iranian-backed groups in Lebanon and Yemen, raising concerns about potential supply disruptions from key oil-producing regions. Despite last week’s price drop due to demand worries, the current geopolitical situation is supporting prices. However, analysts note that OPEC+ supply cuts ending in December and uncertainty about China’s fuel demand could impact future oil prices.READ FULL