Oil jumps 5% on supply concerns as Iran conflict widens
HOUSTON, March 5 (Reuters) – Oil prices jumped 5% on Thursday, extending a rally as the escalating U.S.-Israeli war with Iran disrupted supplies and shipping, driving some major producers in the Middle East to reduce output.
Brent crude was up $4.09, or 5.02%, at $85.49 per barrel by 1:37 p.m. EST, a fifth session of gains. U.S. West Texas Intermediate crude rose $6, or 8.04%, to $80.66.
