Brent crude oil futures rose 0.5% to $105.25 a barrel amid reports of a US attack on the Iranian island of Kashem, Reuters reports. The incident increased the fears of market participants about the escalation of the conflict in the Middle East and possible long-term disruptions in the supply of energy through the Strait of Hormuz.

Brent crude oil futures rose 0.5% to $105.25 a barrel amid reports of a US attack on the Iranian island of Kashem, Reuters reports. The incident increased the fears of market participants about the escalation of the conflict in the Middle East and possible long-term disruptions in the supply of energy through the Strait of Hormuz.