Daily Market Updates: Oil prices climb to six-week high amid worries over Iran tensions

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Oil prices climb to six-week high amid worries over Iran tensions

Front-month West Texas Intermediate and Brent rose nearly 4% on Wednesday after an 11th straight night of attacks in Iran.

Reported · Written up by our desk · Energy

Oil prices rose to a six-week high as market participants scaled back expectations for de-escalation in Iran-related tensions.

According to MarketWatch, West Texas Intermediate and Brent front-month contracts were up almost 4% on Wednesday after an 11th night of attacks in Iran.

The move lifted both major benchmarks higher in tandem as traders reacted to the extended sequence of overnight attacks.

Latest closeBrent $103.93 ▲3.7%

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Sources

MarketWatchOil prices climb to six-week high as hopes of de-escalation in Iran diminish

Commodities

Oil prices climb to six-week high amid worries over Iran tensions

More like this

Sources

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