 "Oil, Brent Crude, Oil Prices, Oil Companies")
Oil prices rose on Tuesday to a more than seven-year high on worries about possible supply disruptions after Yemen's Houthi group attacked the United Arab Emirates, escalating hostilities between the Iran-aligned group and a Saudi Arabian-led coalition.
The "new geopolitical tension added to ongoing signs of tightness across the market," ANZ Research analyst said in a note.
Brent crude futures were up 44 cents, or 0.5%, at $86.92 a barrel at 0230 GMT, after earlier hitting a high of $87.00, their highest since Oct. 30, 2014.
U.S. West Texas Intermediate (WTI) crude futures jumped 81 cents, or 1%, from Friday's settlement
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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