market Overview
Oil prices rose on Monday, recovering from last week's losses as tensions in the Middle East intensified. Brent crude rose 0.4% to $81.46 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 0.3% to $77.39 a barrel. The increase came after Hezbollah rocket attacks on the Israeli-occupied Golan Heights.
The conflict has stoked concerns about instability in the wider region, affecting oil and gas forecasts. Gains were limited by weak demand from China, with fuel oil imports down 11% at the start of 2024, despite concerns about escalating tensions.
