Ammon News - Oil prices rose 1.5% on Thursday, extending gains for a third day, ‌on increasing concerns the U.S. may carry out a military attack on key Middle Eastern producer Iran that could disrupt supply from the region.

Brent crude futures rose 94 cents, or 1.4%, to $69.34 a barrel by 0730 GMT. U.S. West Texas Intermediate crude climbed 92 cents, or 1.5%, to $64.13 a barrel.

Both contracts have climbed about 5% since Monday ‌and are at their highest since September 29.

Prices are rising as U.S. President Donald Trump ​has increased pressure on Iran to end its nuclear programme with threats of military strikes and as a U.S. naval group has arrived in the region. Iran is the fourth-largest producer among the Organization ‍of the Petroleum Exporting Countries with output of 3.2 million barrels per day.

Reuters