middle east

Oil prices increased as escalating tensions in the Middle East continue to fuel fears of a disruption to crude oil flows. Brent climbed to $74.83 per barrel during early trading hours on Thursday. US benchmark West Texas Intermediate (WTI) increased by 1.4% to $71.08 per barrel after closing at $70.1 in the prior session. Oil prices had jumped strongly after Iran, a key producer and member of the Organization of the Petroleum Exporting Countries (OPEC), fired around 180 ballistic missiles at Israel. According to Iran’s Islamic Revolutionary Guard Corps (IRGC), the attack was in response to the assassinations of Hamas…