The increase in oil prices due to concerns about the escalation of tensions in the Middle East – Mehr news agency RCO News Agency

According to Mehr news agency, citing Reuters news agency, concerns about the escalation of tensions in the Middle East caused the price of oil to once again rise in the global market.

Accordingly, oil Brent The North Sea was traded at $79 and 39 cents per barrel with an increase of 37 cents in today’s trading of the energy market. oil price West Texas intermediate America also increased by 36 cents and reached 75 dollars and 19 cents per barrel.

The energy market reacted to Hezbollah’s massive attack on the occupied territories, which was considered the biggest attack since the beginning of the Gaza war on October 7, 2023, and now energy market analysts are worried that the conflict in the Middle East will spread to other regions.

On the other hand, the energy market has become very sensitive about the statistical data about the US economy. The Federal Reserve’s decision to cut interest rates, which could lower borrowing costs, has raised hopes for growth in demand for black gold.