Oil prices rise nearly 1 percent in early trade, extending the previous session’s surge, as concerns over supply disruption intensify after the US and Iran exchange overnight strikes, dimming hopes for a quick easing of tensions in the Middle East.
Brent crude futures rise 87 cents, or 0.92 percent, to $95.52 a barrel, while US West Texas Intermediate (WTI) crude futures climb 80 cents, or 0.89 percent, to $91.02.
Both contracts soared more than $4 in the previous session, marking Brent’s largest gain since July 24 and WTI’s largest since July 23.
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