Oil prices rise rapidly amid Mideast conflict
International oil prices rebounded sharply in intraday trading on Tuesday as markets weighed continued uncertainty over a proposed U.S.-led naval escort arrangement in the Strait of Hormuz, alongside reports that a tanker anchored in the Gulf of Oman was struck by an unidentified projectile.
The West Texas Intermediate for April delivery jumped 3.39 percent to 96.67 U.S. dollars a barrel on the New York Mercantile Exchange, as of 15:30 Beijing time (0730 GMT).
Brent crude for May delivery rose 3.08 percent to 103.30 U.S. dollars a barrel on the London ICE Futures Exchange.
A statement from The United Kingdom Maritime Trade Operations (UKMTO) reported on Tuesday that a tanker anchored in the Gulf of Oman had been attacked by an unidentified projectile, suffering minor structural damage. No injuries were reported.
The UKMTO said the incident occurred 23 nautical miles (about 42.6 kilometers) east of Fujairah in the United Arab Emirates. No environmental pollution was reported. The statement did not provide further details.
