Oil prices climb on Middle East tensions, Saudi price hike
Oil prices (CL=F, BZ=F) are climbing higher as hopes of a Gaza-Israel ceasefire agreement are slimming. Additionally, Saudi Aramco's decision to raise crude oil prices has contributed to the rise in Brent crude futures.
Yahoo Finance Senior Business Reporter Ines Ferré breaks down geopolitical drivers behind the oil price surge.
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This post was written by Angel Smith and updated by Luke Carberry Mogan.