Oil prices rose in early trade, extending the previous session’s surge, as concerns over supply disruption intensified after the US and Iran exchanged strikes overnight, dimming hopes for a quick easing of tensions in the Middle East, Reuters reports.
Brent crude futures rose 75 cents, or 0.8 per cent, to $95.40 a barrel by 0345 GMT, while US West Texas Intermediate crude futures climbed 44 cents, or 0.5pc, to $90.66.
Both contracts soared more than $4 on Tuesday, marking Brent’s largest gain since July 24 and WTI’s largest since July 23.
