Brent crude oil price rises to $88.16 per barrel

The price of a barrel of Brent crude, which rose to as high as $87.80 yesterday, closed the day at $87.11. As of 9:50 a.m. today, the price of a barrel of Brent crude increased by 1.21 percent compared to the closing price, reaching $88.16. West Texas Intermediate (WTI) crude oil also found buyers at $83.89 per barrel.

Oil prices are rising due to concerns that the ongoing tension in the Middle East could disrupt global oil supply.

American media, citing U.S. officials, reported that Israel carried out an attack on Iranian territory in the morning hours. Following reports that Israel had retaliated against Iran, the U.S. Embassy in Israel issued a security warning for its employees and their families.

Iranian media had previously reported sounds of explosions in the northeast of Isfahan province, which hosts an Iranian Air Force base. The official Iranian news agency IRNA also stated that air defense systems were activated in many parts of the country, and that the air defense system in the northwest region of Tabriz was fired after detecting a suspicious target.

News Source: AA