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The Economic Times
The Economic Times
Business

Oil up more than 2% as renewed US-Iran strikes stoke supply fears

Oil United States Iran Strait of Hormuz Middle East

Oil prices rose more than 2% on Tuesday as a resumption in ​fighting between the United States and ​Iran in the Middle East renewed fears of supply disruptions from the ​oil-producing region.

Brent crude futures were up $2.17, or 2.4%, at $92.66 a barrel by 1302 GMT, while U.S. West Texas Intermediate crude was up $2.48, or 2.89%, at $88.24.

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