Oil rises as expanding US-Israeli conflict with Iran elevates supply risks

SINGAPORE: Oil prices rose for a third day on ​Tuesday as the widening US-Israeli conflict with Iran and threats to shipping through the Strait of Hormuz ‌heightened fears of supply disruptions from the key Middle East producing region. Brent crude futures were at $79.44 a barrel, up $1.70, or 2.2 percent, by 07:00 am Saudi time. On Monday, the contract surged to as high as $82.37, its highest since January 2025, though it pared those gains to settle 6.7 percent higher. US West Texas ​Intermediate crude jumped $1.17, or 1.6 percent, to $72.40 a barrel.

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