Oil price rises above $117 a barrel amid fears US will renew strikes on Iran

Brent crude increase follows Tehran threatening retaliatory attacks on Gulf refineries and datacentres Oil has hit its highest level in more than six months as fears of fresh escalation in the Middle East conflict grip the energy markets.

Brent crude, the international benchmark for oil, rose by about 3. 5% on Friday to pass $117 a barrel at one point – its highest level since April. Continue reading...