Oil prices up 3% on worries about Mideast supplies

Brent futures rose US$2.55, or 2.9%, to settle at US$90.48 a barrel, while US West Texas Intermediate (WTI) crude rose US$2.33, or 2.8%, to settle at US$85.54. — Reuters

NEW YORK: Oil prices climbed about 3% to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies.

Brent futures rose US$2.55, or 2.9%, to settle at US$90.48 a barrel, while US West Texas Intermediate (WTI) crude rose US$2.33, or 2.8%, to settle at US$85.54.