OIL/GAS
Brent crude traded around $102 per barrel on Thursday, rising slightly from $90 per barrel .
The increment is due to the intensifying conflict between the US and Iran and raising concerns over further disruptions to energy supplies from the Middle East.
Iran said it was ready for a more intense conflict, vowing to resist the US naval blockade and warning that it would intensify its attacks if American forces continued strikes on Iranian territory.
•Chart/ Trading Economics.com
Meanwhile, President Donald Trump predicted that the conflict would not end until after the November midterm elections and said significant relief in gasoline prices was unlikely before then, signaling limited prospects for near-term de-escalation.
Hostilities intensified over the past week following roughly a month of relative calm, with both sides stepping up attacks.
The conflict broadened after Iran-backed Houthi militants attacked several energy facilities in Saudi Arabia, prompting a temporary suspension of some operations.
