Oil prices rose again on Friday amid a new escalation of the conflict in the Middle East.
Modern.az reports that this situation has increased the risk of a breakdown in the US-Iran ceasefire and weakened hopes for an early opening of the Strait of Hormuz.
Brent crude futures rose $1.29 (1.29%) to $101.35 a barrel on London's ICE Futures exchange. On Thursday, Brent fell $1.21 (1.2%) to $100.06.
June futures for WTI crude, on the other hand, rose $1.05 (1.1%) to $95.86 in electronic trading on the New York NYMEX exchange. In the previous session, this contract fell $0.27 (0.28%) to $94.81.
Yesterday, oil prices fell by up to $5 per barrel amid signals that the US and Iran were making progress towards resolving the conflict.
