Oil prices rose late on August 8 as tensions between Israel and Iran sent prices to an eight-month low. Brent crude futures rose 57 cents, or 0.73%, to $78.90 a barrel. U.S. West Texas Intermediate crude rose 87 cents, or 1.16%, to $76.10.
Oil prices rose after data showed a drop in new U.S. jobless claims, suggesting fears over the labor market were overblown. The prospect of Iranian retaliation against Israel has increased after the killing of senior members of the militant groups Hamas and Hezbollah last week, raising concerns about oil supplies from the region.
Brent crude rose 57 cents, or 0.73 percent, to $78.90 a barrel, while U.S. West Texas Intermediate crude rose 87 cents, or 1.16 percent, to $76.10. The gains came as tensions between Israel and Iran worsened, raising concerns about oil supplies from the region.
Read us in channels Israel News Nikk.Agency News from Israel V – Telegram— Facebook, — Google News