London: Brent oil futures costs jumped on Thursday, hitting a close to six-month high on rising issues a couple of attainable US army assault on Iran, Opec’s fourth-largest producer with output of three.2 million barrels per day.“The immediate concern … is the collateral damage done if Iran takes a swing at its neighbours or possibly even more tellingly, it closes the Strait of Hormuz to the 20 million barrels per day of oil that navigates it,” mentioned PVM analyst John Evans.Brent crude futures have been up $2.6, or 3.8%, to $71 a barrel, reaching its highest degree since Aug 1. The contract is on observe to rise over 16% in Jan, its greatest month-to-month improve in 4 years. US West Texas Intermediate crude was up $2.5, or 4%, to $65.8 a barrel. WTI futures earlier reached $65.8 a barrel, a four-month high, and have been on observe for a 14% month-to-month achieve, the largest since July 2023. US President Trump has elevated stress on Tehran to finish its nuclear programme. tnn
