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Oil rises as Middle East supply concerns persist amid shipping attacks
Oil prices rose on Thursday on persistent worries about supply from the key Middle East producing region amid an increase in attacks on shipping in the Gulf and the Strait of Hormuz. Brent crude futures rose $1.33, or 1.33%, at $101.53 a barrel by 0116 GMT. US West Texas Intermediate (WTI) crude futures gained $1.11, or 1.26%, to $89.39. Prices settled lower on Wednesday after the International Energy Agency agreed to accelerate the release of oil stocks and to prioritize diesel supplies under a plan launched in March, as governments seek to tackle record fuel prices and supply disruptions ...
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