Brent, WTI prices rise as markets anticipate Iranian attack

Oil prices increased on August 7 following a slight rise in the previous session.

The price of October Brent crude futures on the ICE Futures exchange in London reached $76.75 per barrel, up by $0.27 (0.35 per cent) compared to the previous sessions, Caliber.Az reports citing the Russian media.

Meanwhile, September WTI crude futures on the NYMEX electronic trading platform rose by $0.30 (0.41 per cent) to $73.50 per barrel.

Traders remain focused on the Middle East situation, particularly anticipating a possible Iranian attack on Israel following the recent assassination of Hamas political bureau leader Ismail Haniyeh in Tehran. Concerns about oil demand continue to pressure the market, with signals of weakening economies in China and the US adding to the uncertainty.