Crude prices edged up on Monday, as traders expect potential supply concerns due to tensions in the Middle East region. 

According to a Reuters report, the price rise on Monday was supported by "the possibility of a widening Middle East conflict involving Iran, a key producer and member of the Organization of the Petroleum Exporting Countries, after Israel stepped up its attacks on the Hezbollah and Houthi militant groups that Iran backs." 

Israel, on Sunday, said it bombed Houthi targets in Yemen, thus expanding its confrontation with Iran's allies. 

As of 10.37 a.m. India time, Brent crude futures rose by 0.51 percent to $72.35 per barrel. 
Similarly, West Texas Intermediate futures also increased by 0.48 percent to $68.51 per barrel. 

BSEE Gives Updates on Gulf of Mexico Output

Meanwhile, the Bureau of Safety and Environmental Enforcement said that 2 percent of current oil production and 6.04 percent of the natural gas production in the Gulf of Mexico is shut-in due to storm Helene. 

Last week, several major energy giants including the BP and Shell announced that trhey are halting operations in the Gulf of Mexico ahead of the storm. 

These companies also ensured to transfer their employees to safe havens before the storm.