Oil rises as Middle East supply concerns persist amid shipping attacks
- Oil prices rose due to ongoing supply concerns in the Middle East amid increased shipping attacks in the Gulf and Strait of Hormuz.
- Brent crude futures increased by $2.28 to $102.28 per barrel, while US West Texas Intermediate crude rose by $1.66 to $89.94.
- US crude inventories fell by 3.2 million barrels, surpassing expectations and contributing to rising prices.
