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Oil rises after report of US strike on Iran's Qeshm Island
Oil prices rose in early Asian trade on Tuesday after a report that the United States had struck Iran’s Qeshm Island, raising concerns about an escalation of the eight-month conflict and prolonged disruptions to Middle East oil supplies. Brent crude futures rose 48 cents, or 0.5%, to $105.25 a barrel by 0104 GMT while US West Texas Intermediate crude was up 47 cents, or 0.5%, at $96.93 a barrel. Brent crude futures settled $8.66, or 7.63%, lower to $104.77 a barrel on Monday. The United States struck Iran’s Qeshm Island, the Wall Street Journal reported, citing US officials. Some of the of...
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