Middle East conflict lifts oil prices despite large US crude build

Oil prices rise on fears over Middle East supply disruptions. Israel vows retaliation against Iran over Tuesday's missile attack. US crude, gasoline inventories rose while distillate stocks fell last week. Israel's retaliation could include targeting Iranian oil production facilities among other strategic sites. An attack on Iran's oil infrastructure could provoke Tehran to respond with a strike on Saudi oil facilities, similar to one conducted in 2019 on crude processing facilities there, said Tamas Varga of oil brokerage PVM (Read more at Reuters).