Oil prices rise as Iran plans potential attack on Israel

Oil prices rose for a second consecutive day, with West Texas Intermediate surpassing $70 a barrel. This increase follows reports of a potential Iranian retaliatory attack on Israel, raising concerns about supply disruptions in the Middle East. Israeli airstrikes continue, including a recent strike on a Hezbollah fuel depot that resulted in multiple casualties. Despite Israel's openness to ending the conflict in Lebanon, fighting persists, contributing to market volatility. US crude output reached a record high, but declining inventories have tightened supply. Traders remain cautious ahead of upcoming US elections and an OPEC meeting on output plans for December.