INSUBCONTINENT EXCLUSIVE:
Oil prices climbed more than 2% on Wednesday on rising concerns that Middle East tensions could escalate, potentially disrupting crude
West Texas Intermediate (WTI) crude spiked $1.70, or 2.4%, to $71.53 at 0755 GMT
WTI had earlier risen more than $2.Both crude benchmarks on Tuesday surged more than 5% before closing around 2.5% higher.Iran said early on
Wednesday that its missile attack on Israel was over barring further provocation, while Israel and the U.S
like in 2019 or see the closure of the Strait of Hormuz
military on Wednesday sent regular infantry and armoured units to join ground operations in southern Lebanon against Iran-backed
Hezbollah.The United Nations Security Council scheduled a meeting about the Middle East for Wednesday, and the European Union called for an
escalation by Iran risks bringing the U.S
no policy change expected
to as low as $50 per barrel if OPEC+ members do not stick to agreed-upon production limits, the Wall Street Journal reported on Wednesday
citing delegates from the oil producers group.Source: Reuters--Agencies
