Oil Prices Rise as US Strikes Iran
Oil prices rose on Tuesday as fading peace prospects and a US strike on Iran raised supply concerns. Brent crude gained 1.76 percent to reach 106.61 dollars a barrel amid ongoing Middle East conflict.
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West Texas Oil rose $1.61 to $98.06 a barrel Tuesday morning after the United States struck Qeshm Island. The attack followed comments from Iran that a peace deal was distant. Both benchmarks had dropped over 7% on Monday following diplomatic talks involving Qatar and Israel that briefly eased supply fears.
