Iran's Threats Send Oil Prices Soaring to Six-Week Highs

Oil prices have risen to six-week highs after Iran vowed to strike energy infrastructure across the Middle East in response to US attacks on its assets.

Brent crude futures rose 85 cents, or 0.9 percent, to $97.13 a barrel by 12:38 p.m. EDT (1638 GMT), while US West Texas Intermediate crude was up 1.3 percent at $92.63 a barrel.

The latest escalation in the conflict has sharply reduced oil supply from the region, forcing nations to burn through stockpiles to avoid deficits.