US oil prices rise as traders worry about prolonged disruption

The US stock markets have closed for the day. US oil prices settled more than 11% higher and Brent soared nearly 8% on Thursday, as traders worried about prolonged disruptions to oil supply due to the conflict in the Middle East. Reuters reports that Brent crude futures closed at $7.87, or 7.78%, higher at $109.03 a barrel. US West Texas Intermediate crude futures rose $11.42, or 11.41%, at $111.54 per barrel, settling at their biggest absolute price rise since 2020. Earlier in the conflict the