Doha: Oil prices rose at settlement for the third consecutive session today, influenced by developments in the Middle East. Brent crude futures rose $3.56, or 3.42 percent, to settle at $107.77 a barrel. US West Texas Intermediate crude futures climbed $4.11, or 4.19 percent, to $102.18

According to Qatar News Agency, the increase in oil prices is attributed to ongoing geopolitical tensions in the Middle East, which have historically impacted global oil markets. The region's influence on oil production and exportation has once again highlighted its significant role in the global energy landscape.

Experts are observing these developments closely as they continue to shape market dynamics. The rise in oil prices may have broader economic implications, affecting everything from transportation costs to inflation rates globally. The situation remains fluid, with market analysts closely monitoring any further changes in geopolitical conditions that could impact oil prices.