Oil prices rose in Asia this morning; Where it witnessed compensation for the losses it suffered in the previous session; This is a result of investors continuing to evaluate the growing geopolitical risks in the Middle East region. Brent crude futures, the global measure of oil prices, rose by 39 cents, or 0.5%, to reach $87.39 per barrel by 00:33 GMT. While US West Texas Intermediate crude contracts rose by 40 cents, or 0.5%, to reach $82.30 per barrel.

Both benchmarks witnessed a decline of 29 cents in the previous session, but this current rise comes in the context of continuing geopolitical tensions in the region.

Among the factors influencing these fluctuations is the United States’ approval to impose new sanctions on the Iranian oil sector. Which increases pressure on the market; These sanctions expand to include foreign ports, ships and refineries that deal with Iranian oil.

In general, oil markets remain volatile in light of continuing geopolitical concerns and global economic developments.