Crude oil futures rose more than one per cent today on reports that Israel is preparing for a direct attack by Iran this weekend, in what would be the biggest escalation of Middle East tensions since the start of the Israel-Hamas war last October.
The West Texas Intermediate contract for May delivery hit a session high of $87.67, while June Brent futures rallied to $92.18.
Exxon Mobil stock hit an all-time intraday high of $123.74 as the oil rally lifted the energy sector.
U.S. crude was last up $0.98, at $85.98 a barrel, while the global benchmark was trading at $90.73 up $0.99.
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