Oil prices rise, Brent crude futures up 0.4% to $88.86 a barrel, as Middle East supply risks persist amid U.S.-Iran tensions and Strait of Hormuz attacks
Brent crude futures rose 0.4% to $88.86 a barrel, while WTI crude futures gained 0.1% to $78.60 a barrel in mid-morning European trade. Prices are supported by renewed fighting in Lebanon and continued attacks on vessels in the Strait of Hormuz, raising concerns over regional supply disruptions. The U.S. is reportedly preparing additional economic tools against Iran, which is strengthening its military capabilities and regional alliances, while U.S.-Iran talks remain deadlocked and the U.S. is not involved in Iran-Oman discussions regarding the Strait of Hormuz.
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