Crude Oil Rally Continues: Third Weekly Gain as Middle East Tensions Escalate U.S. oil prices are approaching a two-month high and are set for a third consecutive weekly gain, driven by growing concerns of a potential conflict between Israel and Hezbollah. This situation has raised fears of a direct confrontation with Iran, an OPEC member, leading to increased market volatility. The Pentagon’s move to position military assets near Lebanon for potential American evacuations has further heightened tensions. As a result, both U.S. crude (West Texas Intermediate) and global benchmark Brent have reached their highest levels since late April. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Federal Reserve Adopts Scenario Analysis as Inflation Fight Wavers READ MORE Fed's Rate Hikes Propel Global Shift Away from U.S. Dollar, Says Atlantic Council READ MORE Gold Rally Continues nearing $2,500 with Traders Betting on Fed Rate Reductions READ MORE Core PCE Index Slows to Six-Month Low, Balancing Inflation and Growth Concerns READ MORE Treasury Traders Bet on 2024 Fed Rate Cuts READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment