Worries about disruptions in the supply of the Middle East have led to an increase in oil prices.

With concerns about disruptions to the supply of the Middle East, oil prices rose in early Asian trading. According to the US Central Command, the US military launched new strikes against Iran on Wednesday night, just hours after President Trump announced the end of the eight-week ceasefire. Samer Hasn of XS.com stated in an email that the recent rise in oil prices reflects the market's recognition of the "fragility of the current ceasefire and the fact that the Middle East war is not yet over." The senior market analyst added, "The risk of disruptions to oil supply remains high, and the road to solving problems through diplomatic means is still very long." Near-month West Texas Intermediate crude futures rose 1.3% to $74.47 per barrel.