Oil Prices Rally as U.S. Targets Iranian Tankers in New Escalation

Oil prices climbed once again in early Asian trade on Wednesday as the U. S. and Iran traded strikes in a significant escalation after a month of relative calm. At the time of writing, WTI had climbed to $91. 05 per barrel, trading 0. 92% higher on the session, and Brent had risen 1.

19% to trade at $95. 68. Both benchmarks have now climbed by roughly $5 since hostilities between the two countries renewed. U. S.