Oil Prices Rise by Over 1% Amid Middle East Conflict

Mbabane: Oil prices rose in early trading on Monday, by more than 1 percent, amid developments in the Middle East conflict. Brent crude futures climbed $1.36, or 1.24 percent, to $110.62 a barrel, while US West Texas Intermediate crude futures reached $107.26 a barrel, up $1.84, or 1.75 percent. According to Qatar News Agency, the increase in oil prices is linked to ongoing tensions in the Middle East, which have raised concerns about potential disruptions in oil supply. The market response indicates heightened sensitivity to geopolitical events in the region, which is a critical area for global oil production and exportation.