Prices of oil futures rose by more than 1% on Tuesday as markets remained wary of the potential spillover of Israel’s conflict with Iran to other parts of the Middle East, apparently resulting in market fears about the future of the global oil supply.
West Texas Intermediate (WTI) for settlements in Jun rose by 1.14% at 4:43 am ET to sell for $82.84 per barrel. At that minute, Brent for June’s deliveries gained 1.14% to go for $88.00 per barrel.