Crude Oil Drives Higher as Traders Brace for Longer Mideast War

Oil pushed higher as traders braced for a protracted conflict in the Middle East that could further roil energy markets.

Global benchmark Brent rose 4.2% to settle above $112 a barrel after erasing an earlier drop, while West Texas Intermediate settled above $99. US President Donald Trump pushed back a deadline for striking Iranian energy infrastructure by 10 days and Secretary of State Marco Rubio told CNN that the US hasn’t received Iran’s response to Washington’s 15-point plan for talks to end the war.