Oil Prices Climb as U.S.-Iran Conflict Shows No Signs of Slowing

Oil prices continued to climb in early Asian trade on Wednesday as the renewed hostilities between the United States and Iran showed no signs of slowing.

At the time of writing, Brent crude was trading at $92.44, up 1.57% on the session, while West Texas Intermediate was changing hands at $85.51, up 1.39%.

Both benchmarks are now at five-week highs and have been consistently climbing since hitting lows during the July 4th weekend.

The latest move higher was driven by another night of U.S. military operations against Iranian targets, marking…