NEW YORK: Oil prices climbed about three per cent to a two-week high on Thursday after Iran seized an oil tanker off the coast of Oman, raising the prospect of escalating conflict in the Middle East.
Brent futures rose $2.23, or 2.9pc, to $79.03 a barrel by 11:25am EST (1625 GMT), while, US West Texas Intermediate (WTI) crude rose $2.34, or 3.35, to $73.71.
That puts Brent on track for its highest close since Dec 27.
Published in Dawn, January 12th, 2024
Source: dawn.com