Brent hits six-week high above $97 after US strikes and Israeli threats

Brent crude futures rose $1.66, or 1.7%, to $97.29 a barrel by 12:00 GMT on Sept. 3, touching six-week highs, while U.S. WTI rose 2.2% to $93.04, Reuters reported. Reuters tied the rise to new U.S. strikes on Iran and renewed Israeli threats against Tehran.

Why this matters. Both benchmarks were heading for a fourth straight day of gains after the most substantial U.S.-Iran exchange of fire since July.