India, July 23 -- Extending four consecutive sessions of gains, crude oil prices have catapulted on Thursday amid concerns of a wider conflict in the Middle East set off by new attacks by the Iran-backed Houthis in Yemen on two Saudi Arabian tankers in the Red Sea.
WTI Crude Oil for September month delivery was last seen trading up by $92.59 (or 6.63%) at $5.76 per barrel.
The conflict between the U.S. and Iran that started on February 28 is yet to show indications for a peaceful resolution.
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