By Editor
Crude oil price on Thursday surged further to hit $90.65 per barrel.
Brent crude futures for June settled up $1.30, or 1.5 per cent to $90.65 a barrel.
On the other hand, US West Texas Intermediate (WTI) futures for May settled up $1.16, or 1.4 per cent, to $86.59 a barrel.
Both contracts closed on Thursday at their highest levels since October last year, having received support in recent days from the heightened geopolitical tensions and potential supply risks.
According to report, the increment in oil prices comes following news reports that Israeli embassies across the US have been placed on high alert as a result of increasing threats of an Iranian attack on Israeli diplomats.
It was learnt that Iran, the third-largest producer in OPEC, has vowed revenge against Israel for an attack on Monday that killed high-ranking Iranian military personnel.
In a surprise reversal, Washington issued a strong rebuke to Israel on Thursday since the start of its war with Hamas, warning that US policy on Gaza will be determined by whether Israel takes steps to address the safety of Palestinian civilians and aid workers.
Meanwhile, the US on Thursday imposed fresh counter-terrorism sanctions targeting Oceanlink Maritime DMCC and its fleet, alleging their involvement in transporting goods for the Iranian military.
