Oil Prices Rise on Middle East Tensions and Supply Risk Concerns

Crude oil prices ticked higher at the start of the trading week, recovering a portion of recent losses as geopolitical friction in the Middle East and ongoing supply controls by OPEC+ underwrote market support.

Market data from Reuters and Trading Economics show October Brent crude futures rising 0.8% to trade at $77.40 per barrel. U.S. West Texas Intermediate (WTI) crude futures for September delivery advanced 0.9% to reach $74.18 per barrel.

The price recovery is primarily driven by heightened supply security risks. Escalating geopolitical friction in the Middle East alongside sustained threats to maritime logistics in the Red Sea have fed concerns over potential trade disruptions. Concurrently, OPEC+ production discipline and drawdowns in U.S. commercial crude inventories continue to provide a floor for global benchmarks.

N.Tebrizli