Oil prices rose on Thursday amid concerns over the escalation of conflict in the Middle East and disruptions to oil supplies.

Brent crude futures saw an increase of 80 cents (1.08%) to reach $74.70 per barrel, while West Texas Intermediate (WTI) crude futures rose by 85 cents (1.21%) to $70.95 per barrel.

In this context, oil expert Yip Jun Rong noted that the current question is whether Iran’s energy infrastructure will be targeted by Israel.

Additionally, the Israeli army bombed central Beirut following a violent day on the Lebanese front, announcing the death of eight of its officers and soldiers.