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Oil touches USD110 a barrel for first time since May
HOUSTON: Brent touched USD110 a barrel for the first time since May on Friday on worries that escalating tensions in the Middle East could further tighten supplies, while investors assessed how much diesel Russia could supply to the global market. Brent crude futures settled USD3.94, or 3.7 percent, higher at USD109.86, the highest since May 19, while US West Texas Intermediate crude futures closed USD3.44, or 3.5 percent, higher at USD101.41, the highest since September 17. So far this week, Brent has risen 4.9 percent and WTI 10.4 percent. “WTI and Brent reversed earlier losses as escalation...
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