On Thursday, oil prices rose as tensions in the Middle East continued to keep the market on high alert; at the same time, there were reports that the United States is considering taking large-scale military action against Iran in the coming weeks.
International benchmark Brent crude oil for December delivery rose by 1.36% to $101.54 per barrel. US West Texas Intermediate (WTI) crude oil for November delivery increased by 1.04% to $89.32 per barrel.
NBC Financial ( NBC News ) cited sources reporting that President Trump and his national security team have discussed resuming large-scale military operations against Iran in the coming weeks, including the option of launching strikes before next month's mid-term elections.
Meanwhile, tensions in the Middle East continue to rise: Houthi forces supported by Iran have recently targeted Saudi Arabian airports, while Tehran has also been attacking oil tankers in the Strait of Hormuz.
Financial market advisor Inki Cho of the online trading platform Exness stated:Looking to the future, crude oil prices are likely to remain linked to the security of Gulf export routes and infrastructure.
"Any disruption to the passage through the Strait of Hormuz or any upgrades to Saudi Arabia's energy infrastructure could threaten the supply of physical resources and may further drive up oil prices,"Cho added further.
