Oil prices rise amid tensions in the Middle East

CommSec’s Tom Piotrowski says oil prices have risen to their highest levels due to the ongoing conflict in the Middle East. “We have seen oil prices really surge ahead because of the conflict in the Middle East so we’ve seen new highs since October being set for both the US and European benchmark,” Mr Piotrowski told Sky News Australia. “They're up by more than a per cent in both cases. “Brent Crude well north of US$91 a barrel at one stage. “So that has been a factor that has just given markets a little bit of a wobble.” Presented by CommSec.