Oil Rises Amid Middle East Tensions

Oil rose in early morning Asian trading amid Middle East tensions.

0008 GMT — Oil rises in early morning Asian trading amid Middle East tensions. Israel’s military said it was conducting strikes in Tehran area of Iran early Wednesday local time. The military also issued two warnings about incoming missiles, saying launches had been detected from Iran and it was trying to intercept them. Ongoing missile attacks between Israel and Iran have increased concerns over possible supply disruptions, says Axel Rudolph, senior technical analyst at IG, in an email. Front-month WTI crude oil futures are 0.5% higher at $75.22/bbl; front-month Brent crude oil futures are 0.4% higher at $76.74/bbl. (ronnie.harui@wsj.com)

Smoke billows in the distance from an oil refinery following an Israeli strike on the Iranian capital Tehran. (AFP)