Oil prices rise after rocket strike in Golan Heights, tensions escalate in Middle East

From Investing.com: 2024-07-29 00:50:35

Oil prices rose on Monday following a rocket strike in the Israeli-occupied Golan Heights, blamed on Hezbollah. Brent futures went up 0.4% to $81.46 a barrel, while WTI climbed 0.3% to $77.39. Last week, Brent and WTI fell due to Chinese demand and Gaza ceasefire hopes. Israel is preparing a response to the rocket attack that killed 12 kids, while Hezbollah denies responsibility. Tensions in the Middle East are escalating, with Israel targeting Lebanon. Concerns over demand persist, as China’s fuel oil imports dropped 11%. U.S. rigs increased for a second week, and Venezuela’s controversial election outcome is being closely monitored.



Read more at Investing.com: Oil gains on fears of wider Middle East conflict after rocket strike in Golan Heights By Reuters