Oman News Agency

Oil futures rise on Middle East tensions

Singapore, May 6 (ONA) — Oil futures rose today on concerns over escalating tensions in the Middle East.

Brent crude futures rose 28 cents, or 0.3%, to $83.24 a barrel, while U.S. West Texas Intermediate (WTI) crude futures rose to $78.40 a barrel, up 29 cents or 0.4%.

Last week, both futures posted their biggest weekly loss in three months, with Brent down more than 7% and WTI down 6.8%.

— Ends/Khalid