Brent crude futures gained 33 cents to $81.46 a barrel and WTI climbed 23 cents to $77.39 per barrel
– Oil prices rose on Monday, paring last week's loss, on fears of a widening conflict in the Middle East following a rocket strike in the Israeli-occupied Golan Heights, which Israel and the United States blamed on Lebanese armed group Hezbollah.
On Sunday, Israel's security cabinet authorised Prime Minister Benjamin Netanyahu's government to decide on the "manner and timing" of a response to the Saturday's rocket strike in the Golan Heights that killed 12 teenagers and children. "Worries over escalating tensions in the Middle East prompted fresh buying, but gains were limited by lingering concerns of weakening demand in China," said Toshitaka Tazawa, an analyst at Fujitomi Securities.But Israel wants changes in a plan for a Gaza truce and the release of hostages by Hamas, complicating a deal to halt nine months of combat that have devastated the enclave, according to a Western official, a Palestinian and two Egyptian sources.
She added that the US Federal Reserve's rate decision and China's manufacturing PMI are the next key events for markets as they try to gauge the oil market trajectory.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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