Oil price rises as Turkey shoots down Russian jet

Oil price rises as Turkey shoots down Russian jet

Global oil prices rose Tuesday after Turkey shot down a Russian jet on the Syria border, sparking fresh tensions in the crude-rich Middle East, dealers said.

At about 1200 GMT, US benchmark West Texas Intermediate for delivery in January added 38 cents at $42.13 a barrel.

Brent North Sea crude for January rebounded 68 cents to $45.51 a barrel, compared with Monday's closing level.

"Commodities have bounced back with oil trading higher with rising geopolitical tensions in the Middle East," said CMC Markets analyst Jasper Lawler.

Russia confirmed that a warplane shot down by Turkey on the Syrian border was one of its fighter jets but insisted the plane had not violated Turkish airspace.

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