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The Economic Times
The Economic Times
Business

Oil rises to 3-week high as Iran war impasse fuels Middle East supply concerns

Iran Oil Donald Trump

Oil prices rose to their highest levels in more than three weeks on Thursday, as concerns mounted that the deadlock in the Iran war would continue disrupting supplies from the key Middle Eastern producing region, Reuters reported.

Brent crude futures for October delivery gained $2.19, or 2.39%, to $93.81 a barrel at 1257 GMT. US West Texas Intermediate crude futures for September rose $2.33 to $88.16 a barrel, while the more-active October WTI contract advanced $2.44, or 2.89%, to $86.83.

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