Oil futures climbed Wednesday, with U.S. prices settling at their highest in more than two weeks as a blast at a Gaza City hospital raised tensions throughout the Middle East. The oil price is “responding to the aggressive comments from Iran” and others after the apparent hospital bombing in Gaza, “which raise the potential for a possible loss of oil supply from some exporters,” said Michael Lynch, president at Strategic Energy & Economic Research. November West Texas Intermediate crude
CLX23,
rose $1.66, or 1.9%, to settle at $88.32 a barrel on the New York Mercantile Exchange, the highest front-month finish since Oct. 3, according to Dow Jones Market Data.
