London —
Oil prices rose Tuesday after fresh fighting overnight between Israel and Iran diminished hopes that an end to the Middle East war, now in its fourth week, might be imminent.
Brent crude, the global oil benchmark, climbed almost 1.8% to $101.7 a barrel. WTI, the US benchmark, rose 2.8% to $90.6 a barrel.
Brent had reached more than $114 a barrel Monday on worries about a major escalation after US President Donald Trump threatened to “obliterate” Iranian power plants if Tehran did not reopen the Strait of Hormuz.
The oil