Oil prices rose during trading on Tuesday as markets awaited more signals about supply amid the conflict in the Middle East.
Oil prices rose for the second day in a row after the United States launched retaliatory strikes in Iraq and Syria over the weekend, as the estimated 85 air strikes came in response to the killing of three US soldiers in a drone strike on the US military base in Jordan last weekend.
Yemen also continues to target cargo ships in the Red Sea owned or operated by Israeli companies transporting goods to and from Israel in response to the Israeli attack on the Gaza Strip since October 7.
Fears that the spillover of the conflict in the Middle East to other countries will further disrupt supply routes have contributed to the increase in prices.
Investors are also focusing on the visit of US Secretary of State Anthony Blinken to the Middle East, where Blinken arrived in Saudi Arabia yesterday as the first stop on his regional tour, and his tour continues until the eighth of February and also includes Egypt, Qatar, Israel and the West Bank.
