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Brent crude jumps nearly $ 3 after US attacks

3 Jan 2020 10:53 AM

Brent crude futures rose nearly $ 3 today to their highest levels since last September, in the wake of US air strikes carried out in Iraq that killed military personnel, raising fears of heightened tensions in the Middle East that may disrupt oil supplies.

Brent crude hit an intraday high of $ 69.16 a barrel, its highest level since September 17, before falling back to $ 68.21.

West Texas crude futures rose about $ 1.68, or 2.8%, to $ 62.86 a barrel, after rising earlier to $ 63.84, the highest level since May 1.

Iraq is the second largest oil producer in OPEC, with about 3.4 million barrels per day.