OIL PRICES CONTINUE TO RISE

NEW YORK, SEPTEMBER 14 /SRNA/ - Oil prices on the global market rose today amid escalating tensions between the United States and Iran and intensified attacks by Houthi rebels on Saudi Arabia.

In London, the price of North Sea Brent crude rose 3.2 percent to $107.94 a barrel.

In New York, the price of light crude oil also rose 3.2 percent, reaching $103.26 a barrel.

The price of Brent crude was around $72 a barrel in February, when the conflict in Iran began.

The Omani government said earlier that a meeting scheduled to take place today in Muscat with officials from Iran and other countries in the region to further discuss control of the Strait of Hormuz had been postponed.

Clashes between the Houthis and the Yemeni authorities, which are backed by Riyadh, have intensified after the rebels seized additional territory in Yemen, which could help them tighten their control over Saudi Arabia’s oil exports through the Red Sea.