Oil prices began to rise against the backdrop of geopolitical uncertainty in the Middle East, writes the Wall Street Journal. Brent futures rose 0.5% to $115.44 a barrel, while WTI added 0.8% to $102.79. Traders continue to weigh the risks of escalation, threats to energy infrastructure from tensions between Saudi Arabia and the Houthis, and the prospect of renewed efforts to reopen the Strait of Hormuz despite expectations for talks between the US and Iran.

Oil prices began to rise against the backdrop of geopolitical uncertainty in the Middle East, writes the Wall Street Journal. Brent futures rose 0.5% to $115.44 a barrel, while WTI added 0.8% to $102.79. Traders continue to weigh the risks of escalation, threats to energy infrastructure from tensions between Saudi Arabia and the Houthis, and the prospect of renewed efforts to reopen the Strait of Hormuz despite expectations for talks between the US and Iran.