NEW YORK: Oil prices climbed about 2 per cent to a two-week high on Wednesday on a bigger-than-expected US storage draw and hitting session highs after Iran called for an oil embargo on Israel.

Brent futures rose $1.92, or 2.1pc, to $91.82 a barrel by 1:24 p.m. EDT (1724 GMT). US West Texas Intermediate (WTI) crude rose $2.09, or 2.4pc, to $88.75. At their session highs, both benchmarks were up more than $3 a barrel.

Published in Dawn, October 19th, 2023