NEW YORK: Oil prices climbed about three per cent on Thursday to a one-week high after a Houthi missile attack on Saudi Arabia revived fears of supply disruptions, but trade was volatile and prices came off session highs after reports the US and Iran discussed reopening the Strait of Hormuz.
Brent futures rose $3.52, or 3.4pc, to settle at $106.60 a barrel. US West Texas Intermediate crude rose $2.45, or 2.7pc, to settle at $94.61. At their session highs, both contracts were up about 5pc. Brent notched its highest close since Sept 15. It was the first rise in days for WTI, which was down 13pc over six sessions.-Reuters