Tag: escalation

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 US 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 US 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...