Oil Prices Rise in Global Markets Amid Middle East Tensions

Global crude oil prices rose on Tuesday as escalating tensions in the Middle East heightened concerns over potential disruptions to energy supplies. Reports of Houthi attacks on Saudi infrastructure and attacks on vessels in the Gulf region added to market uncertainty, keeping oil prices on an upward trend.

According to Al Jazeera, Brent crude futures rose by 52 cents, or 0.47 percent, to $110.07 per barrel as of 6:28 a.m. GMT on Tuesday. Prices had climbed to $110.70 in the previous session, their highest level since May 20.

Meanwhile, US West Texas Intermediate (WTI) crude futures gained 0.36 percent to trade at $104.03 per barrel.

Market analysts say the security situation in the Middle East and the risk of potential disruptions to energy supplies are increasing uncertainty in global oil markets. Any disruption to shipping routes in the Gulf region could further constrain global oil supplies and put additional upward pressure on prices.