Middle East tensions escalate with oil and Corona puts pressure on prices

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Muhammad Khubaisah / Anatolia

Crude oil prices rose in Tuesday’s trading, supported by tensions in the Middle East, but the continuing outbreak of the Corona virus and the slow global recovery put pressure on prices.

And on Monday, Iranian Foreign Minister Javad Zarif officially held Israel responsible for the “sabotage” act that followed Sunday dawn at the Natanz nuclear facility, in Isfahan province, in the center of the country.

Likewise, the military spokesman for the Houthi group, Yahya Saree, announced on Twitter, Monday, that 10 drones of the type (Samad 3) were targeted by Saudi Aramco refineries.

At 09:00 (GMT), global benchmark Brent crude futures for June delivery rose 0.28 percent, or 18 cents, to $ 63.48 a barrel.

US West Texas Intermediate crude futures, for May delivery, rose 0.17 percent, or 10 cents, to $ 59.80 a barrel.

The global oil market is awaiting, on Tuesday, the monthly report of the Organization of the Petroleum Exporting Countries (OPEC), to review the traditional energy market developments last March, and expectations of demand during 2021.

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