Oil Prices Climb Amid Middle East Tensions and Rising US Crude Stocks

Geopolitical unrest and unexpected inventory increases drive oil market volatility ahead of US presidential election.

Oil prices have risen nearly 4% this week, reversing some losses from the previous week, as tensions in the Middle East escalate.
Brent crude and West Texas Intermediate futures have both seen significant gains, despite a large build in US crude inventories.
The conflict between Israel and Hezbollah, along with Israeli strikes on Syria and Lebanon, has heightened concerns over potential disruptions to oil supply.
US crude inventories rose by 5.5 million barrels last week, far exceeding analysts' expectations and contributing to market fluctuations.
The upcoming US presidential election adds further uncertainty, with potential policy shifts impacting both Middle East diplomacy and oil markets.