Oil prices have increased slightly due to rising tensions in the Middle East following the shooting down of a Russian military jet near the Syrian border.
Brent futures for January rose 67 cents to $45.50 a barrel, while the West Texas Intermediate (WTI) crude increased 68 cents at $42.43, Reuters reported.
SEB chief commodities analyst Bjarne Schieldrop told the news agency that the crash of a military jet warns of a sizeable risk in the Middle East.
Military officials from Turkey said that Turkish F-16s shot down the jet after repeatedly warning its pilots that they were violating the country’s airspace.
In addition, the dollar value weakened from an eight-month peak compared to a basket of currencies, making it affordable for investors to buy more oil.
Investors are also watching for data to be released on US crude stocks data expecting a slight increase.
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By GlobalDataA preliminary Reuters survey of five analysts revealed that for the week ended 20 November commercial crude oil stocks in the US gained 1.1 million barrels.
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