📌 Key Highlights & Quick Takeaways:
- Crude oil prices continue to rise in the global market and oil prices are on the rise for the fourth consecutive month.
- The fresh rise in oil prices on Friday followed reports of several oil tankers allegedly hitting mines in the Strait of Hormuz, Al Jazeera r.
- According to the report, the US-Israel conflict with Iran is entering its eighth month, while the events in the Strait of Hormuz have raised.
Crude oil prices continue to rise in the global market and oil prices are on the rise for the fourth consecutive month.
The fresh rise in oil prices on Friday followed reports of several oil tankers allegedly hitting mines in the Strait of Hormuz, Al Jazeera reported. The development has once again highlighted the threats to global oil shipments and supplies amid ongoing tensions in the region.
According to the report, the US-Israel conflict with Iran is entering its eighth month, while the events in the Strait of Hormuz have raised concerns in the global energy market.
Brent crude for December contracts rose $1.20, or 1.04 percent, to settle at $116.08 a barrel.
