Crude oil prices up amid Iran-Israel escalating tension

Mumbai: Crude oil prices rose today, after Israel and Iran continued to exchange missile attacks and US President Donald Trump’s stance on the conflict kept investors on edge. Brent Crude was trading over 1.4 per cent up at 77 dollars and 80 cents per barrel. WTI Crude was trading 1.7 per cent up at 76 dollars and 42 cents per barrel, when reports last came in.

Meanwhile, US crude oil stockpiles fell sharply last week, posting their largest decline in a year, while gasoline and distillate inventories rose. According to the Energy Information Administration data, crude inventories fell by 11.5 million barrels to 420.9 million barrels in the week ending on 13th June.