Crude oil prices witness significant rise in last few days amid simmering tensions in West Asia

Crude oil prices have seen a significant rise in the last few days amid simmering tensions in West Asia, concerns over tightening supply and expectations about demand and growth as economies improve.

Saturday’s benchmark Brent Crude oil traded at 91.17 Dollar a barrel, rising over 4 per cent for the week. Apart from geopolitical tensions, healthy economic growth of the US and signs of economic recovery in China have also boosted crude oil prices. This year so far, Brent Crude prices have jumped over 18 per cent.

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