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Oil rises for fourth straight session as Middle East tensions intensify
Brent climbed 0.4% to $85.28 a barrel and WTI rose 0.5% to $80.02, both near one-month highs.
US stock index futures were mixed as investors stayed cautious amid escalating Middle East tensions and looked ahead to major technology earnings to gauge whether elevated valuations remain justified, LiveMint Markets reported.
Futures tied to the S&P 500 slipped 0.1% and Nasdaq 100 futures fell 0.4%, while Dow Jones Industrial Average futures rose 145 points, or 0.3%.
Crude oil extended gains for a fourth consecutive session, with Brent futures up 33 cents, or 0.4%, to $85.28 a barrel after a 12% rise over the prior three sessions, and WTI up 42 cents, or 0.5%, to $80.02 a barrel, according to LiveMint Markets.
The move came as renewed conflict involving Iran raised concerns about global supply routes, including US strikes near the Strait of Hormuz and reported attacks involving a vessel near the US naval blockade, the outlet added.
Latest closeWTI crude $80.18 ▲1.1%|Brent $85.39 ▲0.8%|S&P 500 7,572.40 ▲0.4%