Brent Breaks Above $80 on Fears of Middle East Escalation

Brent Breaks Above $80 on Fears of Middle East Escalation

OilPrice.com

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Brent Crude prices spent just a few hours below the $80 a barrel mark as tensions in the Middle East flared up again, pushing oil prices up by 2.5% early on Wednesday after the killing of the Hamas political leader in Iran. In morning trade in Europe, Brent Crude prices were rising by 2.51% at $80.50, while the U.S. benchmark, WTI Crude, was rallying by 2.62% to $76.70. Brent had fallen below the $80 per barrel threshold on Tuesday amid continued concerns about oil demand in China. But oil prices rebounded on Wednesday, rallying in morning trade…

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