20/4/2024, 7:02:02 pm

Oil rises 16% YTD on Middle-East crisis

Oil prices are up around 16 per cent so far this year near the $90 per barrel-mark, with supply worries high given escalating Middle East tensions between Iran and Israel and back-to-back attacks on energy infrastructure between Ukraine and Russia. The rise in prices comes after crude oil had cooled down as the Organisation of Petroleum Exporting Countries (OPEC).