Oil prices rose for a fourth straight session on Sept. 9 as renewed attacks across the Middle East raised fears of further supply disruptions.
Brent crude futures gained 1.4 percent to $99.33 a barrel by 02:12 GMT, while U.S. West Texas Intermediate crude rose 1.4 percent to $94.34.
Brent has climbed about 25 percent since early August as fighting resumed and hopes faded for a lasting end to the six-month-old war.
Yemen’s Iran-backed Houthis struck Saudi cities and energy facilities on Sept. 8. U.S. forces also hit Iranian oil tankers, while Iran said it had targeted an American base in Jordan.
ING analysts said the latest developments suggested a resumption of peace talks remained some way off.
“In the meantime, the market is likely to continue to price in a sizeable risk premium,” they wrote.
Saudi Arabia has diverted some oil exports away from the Strait of Hormuz, but analysts said sustained attacks on the kingdom could complicate efforts to maintain shipments to global markets.
