Oil prices rise as Middle East tensions flare and Iran-US talks stall
Oil prices climbed more than 1% in early trade on Wednesday as hostilities in the Middle East escalated, with Iran firing missiles at Kuwait and Bahrain while diplomatic talks with the United States showed little progress, according to Reuters.
Brent crude rose $1.05, or 1.09%, to $97.05 a barrel, while West Texas Intermediate (WTI) gained $1.01, or 1.08%, to $94.77, both reaching a one-week high in the previous session.
