Oil prices rise amid Middle East tensions

Brent and WTI prices

Brent crude futures rose 28 cents, or 0.4%, to $64.15 a barrel, near a two-month high reached in the previous session. U.S. West Texas Intermediate (WTI) crude also gained 28 cents, or 0.5%, reaching $59.78 a barrel, its highest since December 8.

Geopolitical factors

Rising tensions in Iran, which is experiencing its largest anti-government protests in years, contributed to the price surge. U.S. President Donald Trump warned of potential military action in response to violence against protesters, adding further pressure on global oil markets.