Brent crude passes $92 a barrel, highest price since June amid US-Iran flare up
HONG KONG, China (AFP) — Oil rose in Asian trade Wednesday, with Brent crude hitting its highest price in more than a month, as Iran targeted United States (US) radar and air defence installations in the Gulf.
Brent crude was trading up 1.2 per cent at $92.09 a barrel at around 0130 GMT, its highest intraday price since June 11.
West Texas Intermediate (WTI), the main US oil benchmark, climbed 1.1 per cent to $85.23.
Iran stepped up its attacks in the Middle East on Tuesday, after its war with the United States resumed.
The country said it had attacked and stopped two “non-compliant oil tankers” attempting to transit the Hormuz Strait.
Tehran has attempted to blockade the strait — through which a fifth of the world’s oil supplies transited before the war — as leverage since the US-Israeli attack that kickstarted the war in February.
