Oil extends gains after Israel attacks Hamas leaders in Qatar
Oil extended gains on Tuesday, rising by almost $1, after the Israeli military said it carried out an attack on Hamas leadership in Qatari capital Doha in an escalation of the conflict in the region.
Brent crude was up 97 cents, or 1.5%, at $66.99 a barrel by 1321 GMT after touching a session high of $67.27. U.S. West Texas Intermediate crude climbed 92 cents, also 1.5%, to $63.18 after hitting $63.52.
Both contracts were already trading higher, supported by the latest oil output increase from OPEC+ being smaller than anticipated, expectations that China will continue stockpiling oil and concerns over potential new sanctions against Russia.
Source : Reuters