Brent crude futures settled US$2.90, or 4.34%, higher to US$69.77 a barrel. US West Texas Intermediate crude gained US$3.17, or 4.88%, to US$68.15.
NEW YORK: Oil prices rose more than 4% on Wednesday, to their highest in more than two months, after sources said the US was preparing to evacuate its Iraqi embassy due to heightened security concerns in the Middle East.
Brent crude futures settled US$2.90, or 4.34%, higher to US$69.77 a barrel. US West Texas Intermediate crude gained US$3.17, or 4.88%, to US$68.15. Both Brent and WTI reached their highest since early April.
