WASHINGTON, Oct 8 — Oil prices surged nearly four per cent on Thursday amid heightened concerns over an escalation in the United States (US)-Iran conflict, reported German Press Agency (dpa).
Brent crude prices were up 4.1 per cent at US$104.32 a barrel, reversing losses from the previous session after The Atlantic reported that the White House had asked the Pentagon to develop options for striking Iran before the midterm elections.
No final decision has been made.
WTI crude futures soared 4 per cent to US$91.83 a barrel amid the threat of a hurricane off the US coast.
Tropical Storm Isaias is expected to reach the US Gulf Coast late on Friday as a hurricane.
