MOSCOW, June 8 — Global oil prices are rising 3 per cent amid the escalation of tensions between Israel and Iran, according to trading data, reported Sputnik/RIA Novosti.
As of 22:01 GMT Sunday, the price of August futures for Brent crude was up 3.03 per cent from the previous close, at US$95.93 per barrel, while the price of July futures for WTI oil was trading up 3.3 per cent at US$93.4 per barrel.
Iran fired several missiles at northern Israel on Sunday evening. The attack came just hours after Iran threatened to retaliate for the recent Israeli air strike on a Beirut suburb.
The Israeli Prime Minister’s Office previously announced that the Israeli army had struck a southern Beirut suburb in response to shelling by Hezbollah. According to the Lebanese National News Agency (NNA), the Israeli army struck two apartments in residential buildings, with casualties reported.
