Oil climbs towards $95 as US-Iran strikes intensify
Mumbai, Sept. 8 -- Crude oil prices surged nearly 3% towards a six-week high as escalating US-Iran strikes around the Strait of Hormuz heightened concerns over potential disruptions to global oil flows. Brent crude rose to $98.67 per barrel, while WTI advanced to $94.31, with markets closely monitoring the risk of further escalation following US strikes on Iranian tankers. Supply concerns were compounded by disruptions at some Saudi energy facilities following attacks by Iran-aligned Houthi militants. In India, MCX September crude oil futures climbed nearly 2% to Rs.8,915 per barrel, extending the bullish momentum amid heightened geopolitical risk. Meanwhile, the softer US dollar, with the dollar index easing towards 98.7, provided addition...
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