Lebanon crisis: Oil prices climb on Middle East tensions

Reuters

Sep 24, 2024 12:54 PM IST

Oil prices increased on Tuesday due to China's monetary stimulus and concerns over Middle East tensions affecting supply.

Smoke billows from the site of an Israeli airstrike on the Lebanese city of Baalbeck in the Bekaa valley in south Lebanon. Brent crude rose by 1.14% to $74.74, while US WTI climbed 1.31% to $71.29 amid fears of a looming hurricane impacting production.