Ammon News - Oil prices rose on Thursday, with ​benchmark Brent rising as much as $5 a barrel, after Iran attacked energy facilities across the Middle East following ‌a strike on the South Pars gas field, a major escalation in the war with the United States and Israel.

Brent futures were up $4.66, or 4.3%, at $112.04 a barrel by 0400 GMT, after an earlier rise of more than $5 to $112.86 a barrel. U.S. West Texas Intermediate crude rose 96 cents, or 1%, ​to $97.28 a barrel, after having risen over $3.

Brent closed up 3.8% on Wednesday, while WTI settled nearly flat.

The U.S. central bank held interest rates steady on Wednesday, projecting higher inflation as policymakers take stock of the impact of the U.S.-Israel war ​with Iran.

Reuters