Oil rises as Middle East supply disruption fears spur buying
Oil was higher in early Asian trade amid fears of further Middle East supply disruptions. ANZ Research cited weekend attacks on three oil tankers using an unauthorised route through the Strait of Hormuz.
Oil climbed in early Asian trade as fears of further supply disruptions in the Middle East prompted buying. ANZ Research analysts said in a research report that more oil tankers were targeted by Iran over the weekend, with three coming under attack for using an unauthorised route through the Strait of Hormuz.