Oil up nearly 1% as US and Iran trade fresh strikes

Brent crude rose 0.92 percent to 95.52 dollars a barrel and US West Texas Intermediate gained 0.89 percent to 91.02 dollars after renewed US-Iran strikes raised supply concerns. The escalation followed disruptions in the Strait of Hormuz, which carried about one-fifth of global oil consumption before the conflict, while US crude inventories reportedly fell by 2.6 million barrels.