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Oil Rises as Iran Cools Tension After Israel’s Attack

168 oil spills

By Adedapo Adesanya  Oil settled slightly higher on Friday after Iran played down a reported Israeli attack on its soil, a sign that an escalation of hostilities in the Middle East might be avoided. Brent futures rose by 18 cents or 0.21 per cent to trade at $87.29 a barrel and the US West Texas Intermediate (WTI) ended 41 cents or 0.5 per cent higher to $83.14 a barrel. Both benchmarks spiked more than $3 a barrel earlier in the session after explosions were heard in the Iranian city of Isfahan in what sources described as an Israeli attack. However, the gains were capped