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Oil holds above $116 as Middle East tensions sustain market volatility
Oil prices edged higher on Tuesday as renewed Houthi attacks on Saudi Arabia offset hopes of diplomatic progress in the Middle East, keeping crude markets volatile amid continued disruption to regional supplies, according to a report by Reuters. Brent crude futures rose 0.4% to $116.24 a barrel, while US West Texas Intermediate gained 0.3% to $102.07, reversing earlier declines of approximately 1%. Prices remain near six-month highs after Brent surpassed $117 last week following Iranian attacks on tankers around the Strait of Hormuz. Diplomatic talks between Saudi Arabia, Turkey, Pakistan and
Latest closeWTI crude $101.14 ▼2.1%|Brent $110.00 ▼5.8%
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