Oil Prices Hit $97 as Iran Fighting Intensifies

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Brent surpasses $97 a barrel, hitting a new six-week high

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Economy: Direct - Oil prices stabilized near their highest levels in six weeks today Thursday, after the US launched new strikes on Iran and renewed Israeli threats against Tehran...

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Brent gained 1.7% to $97.29 a barrel while US West Texas Intermediate added 2.2% to $93.04.

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Oil prices hit a six-week high on Thursday as fresh US strikes on Iran and renewed Israeli threats against Tehran heightened concerns about potential disruptions to global oil supplies from the Middle East. Brent crude futures rose 1.02% to $96.61 a barrel, recovering from earlier losses. U.S. West Texas Intermediate (WTI) crude rose 1.56% to $92.43. Both contracts were on track for a fourth straight session of gains, having earlier hit six-week…

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The price of Brent's barrel, which opened today's session down, reversed the trend and traded already above $97 at the end of the morning, rising by 1.5%.