Oil prices were higher today as middle east tensions continue to mount. Cross-border strains between Israel and Lebanon’s Hezbollah have been escalating, fanning fears that a widening war could draw in other countries including major oil producer Iran. In Europe, Russia is considering a possible downgrade of relations with the West due to deeper involvement of the U.S. and its allies in the Ukraine war, but no decision had yet been made, the Kremlin said. U.S. gasoline stocks rose by 2.7 million barrels yesterday “We are right now at the peak of the summer driving season, approaching July 4 weekend, so for markets to be moving sideways now, then we may well even see a dip after the holiday weekend,” said Tim Snyder, economist at Matador Economics. WTI traded up $.84 or 1.04% to close at $81.74. Brent traded up $1.14 or 1.34% to close $86.39.