Texas oil rises 0.2% to $91.48 after latest US strikes on Iran

West Texas Intermediate crude edged up 0.2% to $91.48 a barrel on Friday after the latest US attacks on Iran heightened concern about oil supplies.

October futures, the US benchmark contract, gained 18 cents from the previous close. The increase came as the conflict between Iran and the United States intensified, with US strikes on five Iranian provinces described as the heaviest in more than a month. Iranian authorities said the recent bombardments killed 18 people, including two women and a child, and injured 142.

Analyst Tom Essaye said oil prices would remain high if Iran closed the Strait of Hormuz, through which 20% of the world’s crude supply had passed before the war. He also pointed to “the lack of significant progress toward a ceasefire between the US and Iran.”

The US military escorted 40 merchant vessels carrying 18 million barrels of oil through the strait on Tuesday while the two countries exchanged another round of attacks, CNN reported.

Elsewhere, Ukraine attacked an oil-storage base and Russian air-defense batteries in the resort city of Sochi and nearby Sirius, according to the report. Russia said it had attacked Ukrainian logistics centers, port facilities, ships and energy infrastructure during the previous night.

“

The lack of significant progress toward a ceasefire between the US and Iran