Oil prices climb as Brent tops $95 on US-Iran tensions
Oil rose 0.8% early Wednesday, extending gains as supply fears grew after overnight strikes exchanged between the US and Iran.
Oil prices climbed on Wednesday as Brent crude futures topped $95 per barrel following US-Iran tensions. The benchmark rose 0.8% to $95.40 per barrel, while US West Texas Intermediate (WTI) futures increased 0.5% to $90.66. The gains came amid supply fears following overnight strikes exchanged between the US and Iran, with both nations escalating hostilities over the weekend.
Analysts noted that recent developments have brought regional oil supply risks back into focus, despite crude still flowing through the Strait of Hormuz.
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- Oil surges above $95 on renewed US-Iran fighting and Hormuz disruption concerns thenationalnews.com
- Oil prices jump 1% as US-Iran strikes deepen fears of supply disruption timesofindia.indiatimes.com
