SAEDNEWS: Oil prices continued to rise, with Brent crude futures increasing by 34 cents, or 0.35%, to reach $97.34 per barrel as of 00:00 GMT.
According to Saednews, US West Texas Intermediate (WTI) crude oil prices increased by $1.15, or 1.26 percent, reaching $92.63 per barrel.
The rise came as concerns grew over a prolonged conflict in the Middle East. Iran warned that it would retaliate against any new US attacks on its assets, raising fears of possible disruptions to global oil supplies, Reuters reported.
Brent crude also climbed to its highest level since July 24 in the previous session. Traders continued to add a risk premium to oil prices as tensions increased around the Strait of Hormuz, a critical route for global crude oil shipments.
