Oil Prices Surge to 5-Month Highs Amid Middle East Tensions

Reuters reported oil prices rose more than 1% on October 23 as supply concerns lingered. The previous session, oil had climbed 4% to a five-month high amid concerns about further disruption following Houthi attacks on Saudi Arabia. An investor said they were holding cash rather than buying equities and predicted crude above $120 would have a major impact on India's stock market.