The price of oil continued to rise in trading on Monday, October 12, following the escalation of conflicts in the Middle East, the expansion of attacks by the Yemeni Houthis on Saudi Arabia and attacks on oil tankers in the region. These developments increased fears of a disruption in oil supplies from the Middle East. The price of Brent crude oil rose by 76 cents, equivalent to 0.73%, to $105 and 48 cents per barrel. US West Texas Intermediate crude also rose by 59 cents, equivalent to 0.64%, to 92 dollars and 44 cents. In recent days, attacks on oil tankers in the Strait of Hormuz have increased; Attacks that could disrupt the process of improving crude oil exports from the Middle East in September. The British Naval Operations Center reported that an oil tanker near the port of Suhar in Oman was the target of a UAV attack and another oil tanker was hit by unidentified projectiles while passing through the Strait of Hormuz. Getty Images

The price of oil continued to rise in trading on Monday, October 12, following the escalation of conflicts in the Middle East, the expansion of attacks by the Yemeni Houthis on Saudi Arabia and attacks on oil tankers in the region. These developments increased fears of a disruption in oil supplies from the Middle East. The price of Brent crude oil rose by 76 cents, equivalent to 0.73%, to $105 and 48 cents per barrel. US West Texas Intermediate crude also rose by 59 cents, equivalent to 0.64%, to 92 dollars and 44 cents. In recent days, attacks on oil tankers in the Strait of Hormuz have increased; Attacks that could disrupt the process of improving crude oil exports from the Middle East in September. The British Naval Operations Center reported that an oil tanker near the port of Suhar in Oman was the target of a UAV attack and another oil tanker was hit by unidentified projectiles while passing through the Strait of Hormuz. Getty Images