Oil prices rose amid rising tensions in the Middle East.
Last Sunday, Israeli Air Force planes carried out a series of flights over southern Lebanon and bombed four towns, Anadolu Agency reported, citing Lebanese media.
The Jerusalem Post newspaper quoted Lebanese sources as saying that the Israel Defense Forces (IDF) "carried out massive artillery fire on targets in various parts of Lebanon."
The strikes were in response to a rocket attack on the village of Majdal Shams in the Israeli-controlled Golan Heights.
"Concerns about the demand outlook at the start of the week will give way to rising geopolitical risks in the Middle East as the conflict between Israel and Hezbollah escalates," Commonwealth Bank of Australia analyst Vivek Dhar said.
The price of September Brent futures on the London-based ICE Futures exchange at 8:15 a.m. Bulgarian time was $81.45 per barrel, $0.32 (0.39%) higher than at the end of the previous trade. On Friday, the price of these futures fell by $1.24 (1.5%) to $81.13 per barrel.
WTI oil futures for September on the New York Mercantile Exchange (NYMEX) electronic trade rose $0.26 (0.34%) to $77.42 a barrel. At the end of the previous session, the futures price fell by $1.12 (1.4%), to $77.16 per barrel.
At the end of last week, the price of Brent fell by 1.8%, and WTI - by 1.9%. The drop in prices was fueled by growing concerns about a slowdown in oil demand in China due to signs of a weakening Chinese economy. I BGNES
