Commodities
Middle East Conflict Sends Oil Prices Soaring
Oil prices rose for the fourth consecutive session on Wednesday, fueled by renewed attacks across the Middle East and heightened worries about supply disruptions.
Brent crude futures increased by 1.4% to $99.33 a barrel, while US West Texas Intermediate crude rose to $94.34 a barrel, up 1.4%.
The price of Brent crude has jumped by nearly a quarter since early August as hopes for a permanent resolution to the six-month-old war faded and fighting flared again.
The Middle East conflict intensified on Tuesday with Iranian-backed Houthis launching strikes on several Saudi cities, further drawing in a US ally in the conflict.