Middle East War: Iran rejects US terms as tanker explodes near Hormuz
Oil prices rise above $109 as supply fears grow Oil prices rose on Wednesday amid renewed concerns over Middle East supply disruptions. Brent crude gained 0.78 per cent to $109.64 a barrel, while US West Texas Intermediate climbed to $98.58 in early trading. Threats to Saudi oil facilities and shipping risks near the Strait of Hormuz and Red Sea continued to unsettle markets, Reuters reported.…
We haven't written up this one. Gulf News has the full story — the link below goes straight to it.
