KONTAN.CO.ID - LONDON. Oil prices rose around 1% a barrel on Friday as investors priced in fears of an escalation of conflict in the Middle East which could disrupt oil supplies, after reports that the U.S military had struck Iranian targets in Syria. Brent crude futures for December rose 93 cents or roughly 1.1%, to $88.86 a barrel by 1254 GMT. The U.S. West Texas Intermediate contract for December climbed 91 cents, also about 1.1%, to $84.12 a barrel. Both benchmarks were up by more than $2 a barrel earlier in the session. Two U.S. fighter jets struck weapons and ammunition facilities in Syria on Friday in retaliation for attacks on U.S. forces by Iranian-backed militia since the Gaza war erupted.
Oil Prices Rise 1% on Fears of Escalating Middle East Conflict
KONTAN.CO.ID - LONDON. Oil prices rose around 1% a barrel on Friday as investors priced in fears of an escalation of conflict in the Middle East which could disrupt oil supplies, after reports that the U.S military had struck Iranian targets in Syria. Brent crude futures for December rose 93 cents or roughly 1.1%, to $88.86 a barrel by 1254 GMT. The U.S. West Texas Intermediate contract for December climbed 91 cents, also about 1.1%, to $84.12 a barrel. Both benchmarks were up by more than $2 a barrel earlier in the session. Two U.S. fighter jets struck weapons and ammunition facilities in Syria on Friday in retaliation for attacks on U.S. forces by Iranian-backed militia since the Gaza war erupted.