By COMFORT OGBONNA
Oil prices climbed Thursday as renewed military tensions between the United States and Iran and fresh Israeli threats against Tehran heightened concerns about possible disruptions to crude supplies from the Middle East.
Brent crude futures rose 59 cents, or 0.62%, to $96.22 a barrel by 1:27 p.m. GMT, while U.S. West Texas Intermediate crude gained 78 cents, or 0.86%, to $91.79 a barrel.
Both benchmarks were on track for a fourth consecutive session of gains after reaching their highest levels in about six weeks earlier in the day.
The latest increase came after U.S. strikes on targets in Iran intensified an already prolonged conflict and raised fears that further military action could threaten oil production, transportation routes and other critical energy infrastructure across the region.
Iran’s health minister said 18 people were killed and 108 wounded in Tuesday night’s U.S. strikes across the country. The Iranian Red Crescent separately reported that four people were killed and 67 wounded when a wedding ceremony near the coast of the Strait of Hormuz came under attack.
Three Iranian army pilots were also killed in the strikes, according to reports from Iranian media.
The attacks represented one of the most significant exchanges of fire between Washington and Tehran since July. The broader conflict, which began with U.S. and Israeli strikes at the end of February, has now entered its seventh month.
The escalation has renewed attention on the Strait of Hormuz, one of the world’s most important energy shipping routes. Large volumes of crude oil and petroleum products pass through the narrow waterway each day, making any prolonged disruption potentially significant for global energy markets.
Israeli Defense Minister Israel Katz added to market concerns by warning that Israel would seek to severely damage Iran’s military and civilian infrastructure, including energy facilities, if Tehran launched further attacks against Israel.
The threat of strikes against energy infrastructure has increased uncertainty over future oil supplies and contributed to the latest
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