Mumbai, Oct. 23 -- Oil prices continue to stay strong, near its highest level in five weeks, driven by escalating geopolitical tensions and supply risks in the Middle East. Iran-backed Houthi militants in Yemen reportedly claimed responsibility for attacks on Saudi Arabia's Red Sea port of Yanbu, as well as deadly strikes targeting an oil field and an airport in the world's largest crude oil exporter. Meanwhile, in Europe, Ukraine has intensified its attacks on Russian oil refineries amid a US-Russia agreement involving diesel supplies. Brent has rebounded to around a five month high near $113 per barrel while WTI crude futures are up more than half a percent above $100 per barrel mark.
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