Oil prices climb amid rising tensions in Middle East

New York, Nov 22 (IANS) Oil prices went up, as investors continued observing the escalating geopolitical frictions between Yemen’s Houthi rebels and the Saudi-led coalition in the Middle East.

The West Texas Intermediate for January delivery increased 1.57 US dollars to settle at 58.58 dollars a barrel on the New York Mercantile Exchange, Xinhua news agency reported.

The Brent Crude Oil for January delivery rose 1.57 dollars to close at 63.97 dollars a barrel on the London ICE Futures Exchange.

On Thursday, Yemen’s Houthi rebels said they shot down a spy drone near the border with Saudi Arabia. Earlier on Wednesday, they said they fired an anti-aircraft missile to force away an F-15 jet of the Saudi-led coalition over the northern province of Saada.


Indo Asian News Service

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