Oil prices rose on Monday amid concerns that rising conflict in the Middle East could disrupt regional supply and hopes that last week's US interest rate cut will support demand.
International benchmark Brent crude was up 0,16% at $73,81 a barrel at 11:19 a.m. local time (0819 GMT).
Market players are closely following events in the Middle East, where most of the world's oil reserves are located.
Lebanon's Hezbollah said Sunday it bombed Israeli military-industrial complexes north of Haifa, where Israel said five people were wounded in the attack. Oil prices were also boosted by the US Federal Reserve's (Fed) recent rate cut.
Last week, the Fed cut its interest rate by 50 basis points to a range of 4.75%-5.0%, starting its monetary easing aggressively. The move marked the first rate cut by the central bank in more than four years, since the start of the COVID-19 pandemic.