Crude oil prices rose on Tuesday, with West Texas Intermediate (WTI) climbing over 3%, as military conflict in the Middle East intensified with attacks on key energy infrastructure. Saudi Arabia halted operations at some energy facilities after Houthi militants based in Yemen struck targets in the kingdom, wounding more than 70 people, the Energy Ministry said. Supply fears have compounded since the US military struck three Iranian oil tankers on Saturday in retaliation for Iranian ballistic-missile attacks on two US Navy warships.
WTI for deliveries in October climbed by 3.32% at 4:21 am ET, going for $94.54 per barrel, while Brent for settlements in November gained 2.32% at the same time and sold for $99.27 per barrel.