Crude oil rises on supply risks.

On Monday, WTI crude oil futures rose over 3% compared to the previous week as tensions in the Middle East escalated, leading to concerns of supply disruptions and pushing prices to the $72 per barrel range.

According to reports, Hezbollah launched over 100 rocket attacks into northern Israel on Sunday, with some landing near Haifa.

This attack follows Israeli airstrikes in Beirut on Friday, resulting in at least 45 deaths including one Hezbollah official.

Furthermore, there were reports last week that refineries in the usa are planning the least minor maintenance in the past three years, and crude oil continues to be supported.

This is in response to the usa central bank implementing a rate cut that exceeds financial estimates, stimulating economic activity and potentially further improving fuel consumption prospects.

However, concerns about demand from china persist and are increasing due to the slowdown in refinery production and the sluggish industrial demand.