Baghdad:Oil prices rose for a second consecutive session as persistent concerns over supply disruptions from the Middle East due to the conflict between the United States and Iran outweighed indications of a recovery in crude exports from the region.
According to Iraqi News Agency, Brent crude futures increased by $1.82, or 1.73%, reaching $107.10 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude saw a rise of $1.54, or 1.66%, to $94.14 per barrel.
The ongoing geopolitical tensions have prompted market participants to remain cautious about potential impacts on oil supply chains, despite some positive signs of export recovery.