Oil prices moving towards new highs in global market

Moscow: Due to Middle East tensions, oil prices in the global market are moving towards new highs.

According to international media, the price of crude oil in the international market reached a seven-month high of 89 dollars per barrel due to fears of supply disruption due to rising tensions in the Middle East.

According to the report, the London Brent crude rose 1.8 percent to $89 per barrel, while US crude oil futures for May settled at $85.13 cents per barrel.

The experts stated that there is a risk of supply being affected due to rising tensions in the Middle East and increased oil production in the US, due to which crude oil prices tend to rise.