Oil Prices Rise Amid Middle East Conflict Concerns

Oil prices have increased as traders anticipate ongoing disruptions to crude supply due to the Middle East conflict. According to RTHK, Brent crude in London closed at $112.57 per barrel, marking a rise of $4.56 or 4.2%. Meanwhile, New York crude settled at $99.64 per barrel, up by $5.16, representing an increase of nearly 5.5%. Over the week, Brent and U.S. crude futures have gained approximately 0.3% and over 1%, respectively.