Brent Oil Nears 5 Month High on Supply Fears
Brent oil prices rose toward a five month high as Middle East supply fears and falling US inventories supported the market. Ongoing geopolitical tensions and vessel attacks continue to drive bullish sentiment among traders.
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Brent Crude Oil rose $1.32 to $110.11 per barrel during the Wednesday morning session, hovering near five-month highs on Middle East supply disruption fears. Prices advanced as attacks on Gulf shipping persisted without diplomatic breakthroughs. The ongoing conflict continues to strain global petroleum markets.
