Oil prices rose on Wednesday amid concerns over potential supply disruptions as tensions escalate in the Middle East. Brent crude futures for December delivery gained 1.24% to $107.02 per barrel, while WTI futures for November advanced 1.18% to $95.25 per barrel. Fighting between Saudi Arabia and Iran-backed Houthis continued following a deadly attack on Riyadh’s main airport in Yemen. Hedge fund manager Paul Tudor Jones told CNBC that oil could rally another $20 to $25 due to the Iran conflict, stating he is bullish on oil. Tensions also intensified between the United States and Iran over control of the Strait of Hormuz.
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