Oil prices rose on Wednesday as the market grew increasingly concerned over heightened geopolitical tensions.
By mid-morning, the price of a barrel of North Sea Brent crude for November delivery was up 0.95% at $67.02. Its US equivalent, West Texas Intermediate (WTI) for October delivery, gained 1.05% to $63.29.
The market remains focused on the situation in the Middle East, where tensions escalated following Tuesday’s Zionist aggression targeting the Qatari capital, Doha. Experts also noted that the persistence of the Ukrainian crisis, coupled with severe decisions brandished by Western countries, could impact global oil supply and potentially trigger shortages, further driving up prices.
