Oil settles up more than 3% to six-week high as Mideast conflict threatens oil transit routes

(Reuters) – Oil prices settled at their highest since 11th June on Wednesday on mounting supply concerns as hostilities continued to escalate between the U.S. and Iran, while threats to by the Iran-backed Houthi militia in Yemen further boosted prices. Brent crude futures settled up $3.06, or 3.36%, at $94.07 a barrel, their highest in […] The post Oil settles up more than 3% to six-week high as Mideast conflict threatens oil transit routes appeared first on Kaieteur News.

By KNEWS

Published 23 Jul1 min read

Oil settles up more than 3% to six-week high as Mideast conflict threatens oil transit routes — Image via Kaieteur News.

(Reuters) - Oil prices settled at their highest since 11th June on Wednesday on mounting supply concerns as hostilities continued to escalate between the U.S. and Iran, while threats to by the Iran-backed Houthi militia in Yemen further boosted prices. Brent crude futures settled up $3.06, or 3.36%, at $94.07 a barrel, their highest in […] The post Oil settles up more than 3% to six-week high as Mideast conflict threatens oil transit routes appeared first on Kaieteur News .