Oil rises as risks of prolonged Mideast conflict fan supply worries

Intelligence summary

SINGAPORE: Oil prices extended gains to multi-week highs on Tuesday ‌as risks of a prolonged conflict in the Middle East grew after Iran threatened to retaliate against any new US attacks on its assets, heightening worries over supply disruption. Brent crude futures were up $1.25, or 1.3 percent, to $98.25 a barrel by 09:30 a.m. Saudi time. US West ​Texas Intermediate crude was at $93.70 a barrel, up $2.22, or 2.4 percent. Brent earlier rose to as much as $98.79 a ​barrel, its highest si