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Oil prices advance as reports of Israeli strike on Iran roil global markets

The benchmark contracts surged more than $3 before easing slightly. At 0615 GMT, Brent futures were up $1.40, or 1.61%, at $88.51 a barrel. The most active US West Texas Intermediate contract climbed $1.38, or 1.68%, to $83.48 per barrel.

Oil prices near $90 as Middle East tensions rise

The geopolitical risk premium in oil prices had been unwinding this week on the perception that the US could ensure tensions were managed

Oil surges as reports of Israeli strike on Iran roil markets

OIL prices jumped on Friday as reports that Israel had attacked Iran roiled markets and sparked concerns that Middle East oil supply could be disrupted.

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