Bulgaria Bus Terror Attack Pushes Crude Oil Prices Up

The terror attack against Israeli tourists in Bulgaria's Burgas is said to have contributed to an increase in crude oil rates. Photo by bTV

The July 18 terror attack on a bus carrying Israeli tourists at Bulgaria's Burgas Airport has contributed to an increase in crude oil prices.

According to reports of Bloomberg, prices of Brent crude went up by 2.5% on Thursday amid concerns that the instability in the Middle East would disrupt supplies from the region.

At the London-based ICE Futures Europe exchange, Brent crude for September delivery added USD 2.64 to USD 107.80 per barrel.

Meanwhile, light sweet crude for August delivery increased by around 3% to USD 92.66 per barrel at the New York Mercantile Exchange.

Bloomberg notes that the rising crude oil prices can largely be attributed to the terror attack in Bulgaria and the growing uncertainty about the situation is Syria.

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