Oil Rebounds Above $115 Amid Iran Strike Concerns Arabian Post
Arabian Post Staff -Dubai
Oil prices climbed on Wednesday, with Brent crude rising above $115 a barrel as uncertainty surrounding Israel's parliamentary election and indications of possible renewed American military operations against Iran heightened concerns over Middle Eastern energy supplies.West Texas Intermediate traded near $101 a barrel, reversing part of its losses from the previous two sessions, as investors assessed the implications of Israel's inconclusive election and preparations for a possible escalation after the November 3 United States midterm elections.
The Trump administration has informed several Persian Gulf countries through diplomatic and military channels that they should prepare for a potentially short but intensive military campaign against Iran following the American elections. However, President Donald Trump has not made a final decision on further strikes.
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