Crude contracts rose more than $1 by midday Wednesday, a day after Iran fired ballistic missiles toward the Strait of Hormuz, raising fears that the key oil supply chokepoint would be closed for a prolonged period.
At 12:15 p.m. ET, the more-active October West Texas Intermediate contract was $1.40 higher to $85.45/bbl, and September NYMEX WTI futures were up around $1.75 to $86.65/bbl.
London-based October ICE Brent crude was also up $1.40 to $92.40/bbl and November Brent was up $1.15 to $90.60/bbl.
WTI is on track to finish higher in eight out of the last nine sessions.
Refined product contracts are mixed. October RBOB was down 0.6ct to $3.0025/gal and September RBOB was 1.75ct lower to $3.2845/gal. October ULSD was 3.25cts higher to $4.3555/gal and September ULSD was up 3.75cts to $4.4880/gal.
