(Finance) – Oil remains on the rise at Nymex, in response to persistent tensions in the Middle East following Israel’s attack on Lebanon and the prompt response supported by Iran.
The contract on Light raw recorded a strong increase of 3.16% to 77.19 dollars per barrel, while the Brent North Sea crude reached $81.22, up 2.80%.
Market sentiment was also pressured by the economic slowdown in the US and China and trade tensions over electric cars, with Canada announcing it would impose tariffs on imported electric cars.